Goldman Sachs analyst Brian Lee lowered the firm’s price target on Shoals Technologies (SHLS) to $9 from $10 and keeps a Buy rating on the shares as part of a broader research note on Solar names. The company has seen revenue decline in FY24 as it has battled an IP/patent infringement case and been dealing with a warranty issue with a portion of its products, but while the IP issue is still ongoing as this determination is being reviewed, the preliminary determination is seen as a net positive as customers are likely to come back to Shoals for products, not knowing if the infringing products will be available for new supply or replacement products next year, the analyst tells investors in a research note.
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