Susquehanna analyst Biju Perincheril has increased Array Technologies' price target from $5.50 to $7.50, a 36.36% increase, while maintaining a "Neutral" rating. The average one-year price target for Array Technologies is $8.83, with a high estimate of $13.00 and a low estimate of $5.00. The average target implies an upside of 23.21% from the current price.
Susquehanna analyst Biju Perincheril has increased Array Technologies' (ARRY) price target from $5.50 to $7.50, a 36.36% increase, while maintaining a "Neutral" rating. This adjustment reflects a more optimistic outlook on the company's financial performance in the upcoming months [1].
Array Technologies, a leading manufacturer of solar tracking solutions, has been on the radar of investors and analysts due to the growing renewable energy sector. The latest price target increase by Susquehanna suggests confidence in the potential for growth, despite maintaining a "Neutral" rating [1].
Wall Street analysts have forecasted an average one-year price target of $8.83 for Array Technologies, with a high estimate of $13.00 and a low estimate of $5.00. This average target implies an upside of 23.21% from the current price of $7.17 [1]. The consensus recommendation from 25 brokerage firms is currently "Outperform," indicating a positive outlook [1].
GuruFocus estimates the GF Value for Array Technologies in one year to be $11.99, suggesting an upside of 67.34% from the current price of $7.165 [2]. GF Value is calculated based on historical multiples and future performance estimates.
Array Technologies reported a strong first quarter, with a 97% increase in revenue year-over-year, reaching $302.4 million. The company maintained a robust order book valued at $2 billion, with an 18% increase in contracting compared to the previous quarter [2]. Despite these positive developments, the company is facing near-term policy-related headwinds, including ongoing tariff negotiations and potential shifts in the Inflation Reduction Act [2].
References:
[1] https://www.gurufocus.com/news/2990801/susquehanna-raises-price-target-for-arry-maintains-neutral-rating-arry-stock-news
[2] https://www.gurufocus.com/news/2990162/susquehanna-adjusts-price-projection-for-array-technologies-arry-arry-stock-news
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