RBC Capital initiated coverage of Array Technologies (ARRY) with a Sector Perform rating and $7 price target The company’s product innovation is having a positive impact on demand and repositions Array to compete on undulating terrain and at non-square site locations that were highlighted as a shortcoming in RBC’s channel checks, the analyst tells investors in a research note. The firm believes these advances could lead to a “compelling story for market share recapture,” but wants to see more proof points of increasing order flow before turning more constructive on the shares.
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