Citi lowered the firm’s price target on Array Technologies to $16.50 from $22 and keeps a Neutral rating on the shares. The analyst expects the company’s Q4 report to be largely in-line with consensus but miss on 202 sales guidance. Array could exit 2023 with $1.7B of backlog, which would support Citi’s below consensus revenue forecast of $1.66B for 2024, the analyst tells investors in a research note.
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