As previously reported, Craig-Hallum analyst Christian Schwab initiated coverage of Nextracker with a Buy rating and $41 price target. The firm sees Nextracker as well positioned for strong multi-year growth and EBITDA margin expansion. The company has "impressive visibility" with a backlog of $2.1 billion in firm orders, which is up over 50% from the end of fiscal 2022, Craig-Hallum says. With a "robust" revenue CAGR of 26% from 2021 through the firm’s 2023 estimate, Craig-Hallum believes Street growth expectations of a 15%-18% CAGR from 2023 through 2025 could prove conservative.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on NXT:
- Three new option listings and one option delisting on March 14th
- ‘Hot IPOs;’ These Newly-Public Stocks Are ‘Strong Buys,’ According to Analysts — Here’s Why and Where They’re Headed
- Nextracker initiated with an Outperform, $38 price target at Scotiabank
- BofA starts Nextracker with a Neutral, sees competitors coming
- Nextracker initiated with a Buy at Truist