On Nov 14, major Wall Street analysts update their ratings for $Shoals Technologies (SHLS.US)$, with price targets ranging from $5 to $10.
Piper Sandler analyst Kashy Harrison maintains with a buy rating, and maintains the target price at $10.
Cantor Fitzgerald analyst Derek Soderberg maintains with a buy rating, and adjusts the target price from $12 to $8.
Truist Financial analyst Jordan Levy maintains with a buy rating, and sets the target price at $8.
Roth MKM analyst Philip Shen maintains with a hold rating, and adjusts the target price from $6 to $5.
Furthermore, according to the comprehensive report, the opinions of $Shoals Technologies (SHLS.US)$'s main analysts recently are as follows:
Shoals Technologies is anticipated to perform towards the higher end of the anticipated revenue spectrum for 2024, accompanied by some favorable qualitative indicators revealed alongside earnings. Nevertheless, tepid bookings and the recent update concerning the backlog present near-term challenges for the fiscal year 2025.
Shoals Technologies' Q3 outcomes presented a dichotomy, with revenues surpassing projections, yet margins falling short due to expenses related to wire insulation shrinkback and supply chain challenges. Despite these setbacks, the company experienced robust bookings in October and is witnessing positive momentum as the year concludes, bolstered by its growing relationships with large EPCs and its foray into new markets.
Shoals Technologies exhibited robust top-line revenue performance for the third quarter of 2024. Nevertheless, the company's gross margins faced pressures stemming from labor costs, non-recurring expenses, and volume-based discounts.
Here are the latest investment ratings and price targets for $Shoals Technologies (SHLS.US)$ from 4 analysts:
Note:
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