Nextracker price target lowered to $54 from $63 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Nextracker (NXT) to $54 from $63 and keeps a Buy rating on the shares as part of a broader research note on Solar names. The company could be among the beneficiaries if manufacturing tax credits were to remain in place under the new administration as these credits represent most of its earnings power, the analyst tells investors in a research note. The firm adds however that it is reducing its assumed earnings multiple to 15-times from 17.5-times on lower comps.