Shoals Technologies price target lowered to $10 from $11 at Goldman Sachs

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.