Shoals Technologies removed from Analyst Focus List at JPMorgan

JPMorgan analyst Mark Strouse removed Shoals Technologies from the firm’s Analyst Focus List but keeps an Overweight rating on the shares with a $21 price target. Exiting the Q1 prints for clean energy, the firm is shuffling its top picks to stocks it believes are relatively best positioned to navigate what it expects to be a volatile remainder of the year. While JPMorgan continues to believe that utility-scale solar has the highest level of demand, it says macro factors are impacting project timing while increasing geopolitical developments present risks. The analyst removed Array Technologies (ARRY) and Shoals Technologies (SHLS) from the firm’s Analyst Focus List, believing increasing geopolitical issues and project timing uncertainty “may keep a lid on both stocks near term.” JPMorgan’s top picks are HASI (HASI) and TPI Composites (TPIC).