Goldman Sachs lowered the firm’s price target on Shoals Technologies (SHLS) to $10 from $11 but keeps a Buy rating on the shares. The company’s Q3 results were mixed, with revenue coming in better than expected while margins disappointed due to a wire insulation shrinkback expense and supply chain issues, the analyst tells investors in a research note. Goldman Sachs adds however that Shoals has already received strong bookings in October and is seeing positive momentum exiting the year as it gains traction with large EPCs and expands into new markets.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHLS:
- Musk says solar power to be ‘majority of power generation in the future’
- Shoals Technologies sees FY24 revenue $390M-$400M, consensus $383.63M
- Shoals Technologies reports Q3 adjusted EPS 8c, consensus 10c
- Shoals Technologies reports backlog of $596.6M as of Sept. 30
- Shoals Technologies sees Q4 revenue $97M-$107M, consensus $94.65M