UBS Raises Price Target for Shoals Technologies to $9.00, Maintains 'Buy' Rating

UBS raises Shoals Technologies' (SHLS) price target to $9.00, a 28.57% increase, and maintains its 'Buy' rating. Analyst Jon Windham remains optimistic about the company's potential. Other analysts have also upgraded their price targets for SHLS, indicating a positive sentiment towards the stock. The average target price is $7.52, with a high estimate of $11.00 and a low estimate of $4.00.

UBS Group has raised its price target for Shoals Technologies Group (SHLS) to $9.00, a 28.57% increase from its previous target of $7.00, while maintaining its 'Buy' rating. The upgrade comes amidst a broader positive sentiment towards the stock, as several other analysts have also revised their price targets upward.

Analyst Jon Windham at UBS remains optimistic about the company's potential, citing the growth opportunities in battery energy storage systems (BESS) and data centers. Windham expects Shoals Technologies to benefit from the increasing demand for energy storage solutions tied to data centers, which are projected to become one of the fastest-growing segments over the next five years Barclays upgrades Shoals Technologies on battery storage and data center demand^[2].

Barclays has also upgraded SHLS to an 'Overweight' rating, raising its price target to $10.00. The brokerage highlights the company's entry into these markets, noting that data centers and artificial intelligence are significant drivers of electric grid demand. Barclays estimates a U.S. addressable market for BESS to reach around $2 billion by 2030 and $4 billion by 2035 Barclays upgrades Shoals Technologies on battery storage and data center demand^[2].

Institutional investors have shown increased interest in SHLS, with a 1.58% increase in the number of funds or institutions reporting positions in the company over the last quarter. The total shares owned by institutions increased by 5.19% to 203,719K shares, indicating strong institutional support UBS Maintains Shoals Technologies Group (SHLS) Buy Recommendation^[1].

The company's projected annual revenue for 2025 is expected to be $980MM, an increase of 144.81% from the previous year. The projected annual non-GAAP EPS is 1.82, reflecting robust financial performance UBS Maintains Shoals Technologies Group (SHLS) Buy Recommendation^[1].

Other notable shareholders have also adjusted their positions. Wellington Management Group Llp decreased its portfolio allocation in SHLS by 86.36% over the last quarter, while Encompass Capital Advisors and BNP Paribas Asset Management Holding increased their holdings significantly UBS Maintains Shoals Technologies Group (SHLS) Buy Recommendation^[1].

The current consensus price target is $9.40, with a high estimate of $11.00 and a low estimate of $4.00, indicating a range of optimism among analysts Shoals Technologies Group (NASDAQ:SHLS) Upgraded to Overweight at Barclays^[3].

Overall, the positive upgrades and increasing institutional interest suggest that Shoals Technologies Group is well-positioned to benefit from the growing demand for energy storage solutions and data center infrastructure.