Array Technologies assumed with an Underweight at Morgan Stanley

Morgan Stanley analyst Andrew Percoco assumed coverage of Array Technologies with an Underweight rating with a price target of $17, up from $16, as the analyst took over lead coverage of North America Clean Tech research at the firm. The analyst’s In-Line industry view balances the strong long-term growth prospects for renewable energy with near-term headwinds that include permitting backlogs, a challenging supply chain and macro environment and volatility in the financing markets.