Array Technologies price target lowered to $8 from $14 at Piper Sandler

Piper Sandler lowered the firm’s price target on Array Technologies to $8 from $14 and keeps a Neutral rating on the shares. The company’s guidance cut was widely expected by investors and expectations were low. but the 28% reduction “probably wasn’t on anyone’s bingo card,” the analyst tells investors in a research note. The firm reduced 2025 revenue expectations by 16% to $1.20B but lacks conviction in the forward outlook.