Susquehanna Raises Array Technologies Price Target to $7.50 Amid Sector Uncertainties

Susquehanna has increased its price target for Array Technologies (ARRY) to $7.50 from $5.50, while maintaining a Neutral rating. The firm favors companies with significant domestic manufacturing operations and strong order backlogs in the alternative energy sector. Analysts forecast an average target price of $8.83 with a high estimate of $13.00 and a low estimate of $5.00.

Susquehanna has recently increased its price target for Array Technologies (ARRY) to $7.50 from $5.50, while maintaining a Neutral rating. This move comes amid a broader trend of analyst upgrades in the renewable energy sector, driven by strong domestic manufacturing operations and robust order backlogs. The firm's analysts expect ARRY to benefit from these factors, with a forecasted average target price of $8.83, ranging from a high estimate of $13.00 to a low estimate of $5.00 [2].

Array Technologies, Inc. (ARRY) is a leading provider of solar module technologies and solutions. The company has been making significant strides in the alternative energy sector, with a strong focus on innovation and efficiency. Despite recent market volatility, ARRY has shown resilience, with its stock price fluctuating within a reasonable range. Analysts remain optimistic about the company's prospects, attributing its potential growth to its strong position in the solar industry.

In a recent article, Simply Wall St estimated the intrinsic value of ARRY using a Discounted Cash Flow (DCF) model. The analysis revealed that ARRY is currently undervalued, with a projected fair value of $9.85. This value is 24% higher than the current share price of $7.47. The DCF model, which discounts future cash flows to their present value, indicates that ARRY's stock is trading at a significant discount to its intrinsic value [1].

The company's financial performance has been closely watched by investors, with analysts predicting an EPS of $0.19 for the upcoming quarter, a 5% decline compared to the same period last year. However, the company is expected to post a revenue of $285.71 million, indicating a 11.7% upward movement from the previous year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.64 per share and a revenue of $1.1 billion, signifying shifts of +6.67% and +20.39%, respectively, from the last year [2].

Array Technologies' stock has been affected by market dynamics, with a recent drop of 6.63% over the past month. However, the company's strong fundamentals and growth prospects have led analysts to upgrade their price targets. As investors continue to monitor ARRY's performance, it is crucial to consider the broader market trends and the company's unique position in the alternative energy sector.

References:
[1] https://finance.yahoo.com/news/opportunity-array-technologies-inc-nasdaq-102001833.html
[2] https://www.nasdaq.com/articles/array-technologies-inc-arry-stock-drops-despite-market-gains-important-facts-note