Citi analyst Vikram Bagri maintains $Nextracker (NXT.US)$ with a hold rating, and adjusts the target price from $56 to $45.
According to TipRanks data, the analyst has a success rate of 22.4% and a total average return of -24.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Nextracker (NXT.US)$'s main analysts recently are as follows:
The previous year was described as 'tumultuous' for the alternative energy equipment and services sector, influenced by shifts in commodities, regulations, and political landscapes. Looking ahead, it is noted that utility scale companies appear better positioned, with achievable consensus estimates and robust balance sheets. However, caution is advised on residential solar due to its reliance on incentives and relatively weaker financial flexibility.
The firm holds a pessimistic view on the Clean Energy sector for 2025 due to uncertainties related to IRA/political factors and elevated interest rates. Despite a downturn in sector trading, investor interest might remain subdued until clearer regulatory and economic conditions prevail. Nextracker stands out as one of the preferred choices in this sector according to the firm.
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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