Morgan Stanley analyst Andrew Percoco maintains $Shoals Technologies (SHLS.US)$ with a hold rating, and adjusts the target price from $8 to $7.
According to TipRanks data, the analyst has a success rate of 49.1% and a total average return of -3.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Shoals Technologies (SHLS.US)$'s main analysts recently are as follows:
The assessment of the clean technology sector has been moderated to reflect a neutral stance, with an emphasis on the increased uncertainty surrounding the renewable policy landscape due to the recent change in administration. In this environment, the recommendation is to focus on companies that exhibit robust and dependable growth and margins, possess a well-defined trajectory for growth catalysts, or have a solid financial foundation to navigate potential short-term fluctuations in growth and profitability.
Shoals Technologies appears to be on track to reach the higher end of its revenue range for 2024, accompanied by promising qualitative data points from its earnings report. However, concerns arise from modest bookings and the latest update on backlog, which may present near-term challenges looking towards fiscal 2025.
Shoals Technologies exhibited robust top-line revenue performance for the third quarter of 2024, although gross margins faced pressures from labor costs, non-repeating expenses, and volume discounts.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
