Nextracker price target raised to $50 from $44 at Truist

Truist analyst Jordan Levy raised the firm’s price target on Nextracker to $50 from $44 and keeps a Buy rating on the shares as part of a broader research note on utility-scale Solar names. The firm sees continued strong tailwinds from both policy and overall power needs, along with declining component and O&M prices driving a favorable growth environment both in the near-term and coming years. The analyst adds that utility-scale names should garner meaningful outperformance vs. residential Solar peers.