JP Morgan Keeps Shoals Technologies at Overweight, Raises PT to $9

JP Morgan Keeps Shoals Technologies at Overweight, Raises PT to $9

JP Morgan has maintained its Overweight rating for Shoals Technologies Group (SHLS) while increasing its price target to $9. The investment firm's analysts, led by Samik Chatterjee, cited strong early demand for Apple's iPhone 17 and the potential for higher iPhone volumes in fiscal 2026 as reasons for the positive outlook Indicators show consumer appetite for Apple's iPhone 17 stronger than expected; JP Morgan raises targets^[1].

The analysts noted that "early demand indications are outlining the opportunity for the volume cycle to not only track higher than our initial expectations, but also upside to iPhone 16 series volumes on a y/y basis." This positive trend is expected to support mid- to high-single-digit iPhone revenue growth for Apple in fiscal 2026 Indicators show consumer appetite for Apple's iPhone 17 stronger than expected; JP Morgan raises targets^[1].

In addition to the iPhone 17, Shoals Technologies is expected to benefit from the broader solar industry trends. The U.S. solar industry, despite facing a 24% year-over-year decline in second-quarter 2025 installations, is projected to rebound, with solar powering over half of new U.S. electricity generation in 2025 Zacks Industry Outlook Highlights Sunrun, Shoals Technologies and Tigo Energy^[2].

Shoals Technologies, which provides vital components for the solar industry, is positioned to benefit from this anticipated growth. The company's stock has been performing well, with Sunrun Inc. (RUN) and Tigo Energy Inc. (TYGO) also receiving positive attention from analysts Zacks Industry Outlook Highlights Sunrun, Shoals Technologies and Tigo Energy^[2].

JP Morgan's optimistic outlook on Shoals Technologies reflects the firm's belief in the company's ability to capitalize on the growing demand for solar technology and the strong early demand for Apple's latest iPhone model.