Mizuho Raises Shoals Technologies Group's Price Target to $8, Guggenheim Keeps Buy Rating

Shoals Technologies Group reported Q4 revenue of $148.3 million, a 39% YoY increase, driven by stronger demand for utility-scale solar projects. However, gross margin declined to 31.6% due to higher material costs and tariffs. Mizuho raised its price target to $8 from $7, while Guggenheim Partners maintained a Buy rating with a new price target of $11. The company expects revenue between $560 million and $600 million in 2026 and adjusted EBITDA between $110 million and $130 million.