BofA analyst Julien Dumoulin-Smith upgraded Nextracker to Buy from Neutral with a price target of $40, up from $36. The company’s project deliveries are accelerating, the analyst tells investors in a research note. The firm is confident in Nextracker’s Inflation Reduction Act positioning with 10GW of announced U.S. steel capacity and more showing up recently. The company "checks all the right boxes" with investors seeking defensive ways to leverage growth in clean technology while avoiding capital markets risk ad consumer trends, contends BofA.
Published first on TheFly
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