Wells Fargo analyst Praneeth Satish maintains $Nextracker (NXT.US)$ with a buy rating, and adjusts the target price from $70 to $69.
According to TipRanks data, the analyst has a success rate of 58.6% and a total average return of 5.9% 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 challenging for the alternative energy equipment and services sector, influenced by fluctuations in commodities, as well as regulatory and political shifts. Looking forward, companies focused on utility-scale projects appear to be better situated, benefiting from realistic market expectations and robust financial foundations. Caution is advised regarding the residential solar segment, primarily due to its reliance on incentives and comparatively limited financial flexibility.
The firm is pessimistic about the Clean Energy sector for 2025 due to uncertainties surrounding IRA/political factors and elevated interest rates. Although the sector has experienced declines, investor interest may remain subdued until there is more clarity on regulatory and broader economic challenges. Nextracker is highlighted as one of the top selections in this sector.
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.
