Barclays upgraded Nextracker (NXT) to Overweight from Equal Weight with a price target of $60, up from $47. The firm now expects the company to track towards the upper end, if not above, all its guidance metrics for fiscal 2025. Following “another strong bookings quarter,” Barclays increased fiscal 2026 numbers. It now estimates Nextracker is trading at a three-quarter turn discount to Array Technologies (ARRY). Nextracker should trade at least a two turn premium to its closest comp due to the execution of managing the business well, especially this past year which has had most of its utility-scale peers miss and lower numbers, the analyst tells investors in a research note. It cites the company’s “flawless execution” for the upgrade.
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