SIG analyst Biju Perincheril maintains $Array Technologies (ARRY.US)$ with a buy rating, and adjusts the target price from $10 to $9.
According to TipRanks data, the analyst has a success rate of 49.2% and a total average return of 8.2% 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 company's commentary on the stabilization of the U.S. project development cycle timing is encouraging, although previous estimates now seem to be overly optimistic.
Array Technologies' Q3 outcomes aligned with forecasts, although the company trimmed its 2024 adjusted EBITDA outlook by 11% at the mid-point. Despite a reduction in estimates, a resurgence in growth is anticipated 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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