Wells Fargo analyst Michael Blum maintains $Array Technologies (ARRY.US)$ with a hold rating, and adjusts the target price from $10 to $8.
According to TipRanks data, the analyst has a success rate of 65.1% and a total average return of 11.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Array Technologies (ARRY.US)$'s main analysts recently are as follows:
The firm remains optimistic about Array Technologies following the Q3 report, noting a stabilization in the U.S. project development cycle timing. However, they acknowledge that their previous estimates may have been overly ambitious.
Array Technologies' Q3 results met expectations while the company's adjusted EBITDA forecast for 2024 was decreased by 11% at the mid-point. The projection for a return to growth is now set for 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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