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Baird starts Array Technologies at Outperform on solar growth
['Tue', 'September', 'At Pm Gmt', 'Min Read']
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Investing.com -- Baird initiated coverage of Array Technologies with an Outperform rating and a price target of $11, saying the solar tracker maker stands to benefit from U.S. policy clarity, rising utility-scale solar demand, and its strong competitive position in a consolidating market.
Array, one of the world’s largest providers of utility-scale solar trackers, operates an asset-light model and holds the second-largest market share in the U.S. behind Nextracker.
The North American tracker market is dominated by a few players, with Array competing on both technology and cost.
Array’s technology improvements and exposure to a fast-growing utility solar market support the bullish view.
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