Northland resumes coverage of Nextracker with 'outperform' rating

Nextpower

19/11/2024 17:22

** Northland resumes coverage of solar tracking equipment
maker Nextracker  NXT.O  with "outperform" rating
    ** Brokerage says utility-scale solar energy cost lower than
fossil fuels in most places
    ** Northland says cloud service providers prioritizing clean
energy is driving solar energy demand
    ** "The cost of energy storage systems is decreasing and
increasing the utility of solar power," says Northland 
    ** Brokerage sets PT at $48, a ~28.2% upside to stock's last
close
    ** Twenty-two of 28 brokerages rate the stock "buy" or
higher, 6 "hold"; their median PT is $55 - LSEG data
    ** Including session's moves, stock down ~20.3% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))