BMO Capital analyst Ameet Thakkar maintains $Array Technologies (ARRY.US)$ with a hold rating, and adjusts the target price from $9 to $8.
According to TipRanks data, the analyst has a success rate of 47.7% and a total average return of -1.9% 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's estimation on Array Technologies has been adjusted following the Q3 report, due to a more stable outlook on U.S. project development cycle timing, although previous estimates now seem to have been overly optimistic.
Array Technologies posted Q3 results that met expectations, alongside a reduction of the 2024 adjusted EBITDA guidance by 11% at the mid-point. The outlook suggests a return to growth anticipated in 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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