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Investing.com - Jefferies has raised its price target on Array Technologies (NASDAQ:ARRY) to $13.00 from $10.00 while maintaining a Buy rating on the stock. The solar tracking systems manufacturer, currently trading at $8.42 with a market cap of $1.28 billion, has shown remarkable momentum with a 49.82% gain in the past week.
The firm cited the completion of the APA transaction and resolution of Treasury guidance-related uncertainty as key factors behind the more optimistic outlook for the solar tracking systems manufacturer.
Jefferies expects the APA solar acquisition to add 19% value to Array Technologies before accounting for synergies, while also improving the company’s EBITDA margin by approximately 60 basis points in 2026.
The Treasury guidance maintained the status quo, which Jefferies believes will keep Array’s end-market relatively intact from 2028 to 2030 compared to previous expectations.
Array Technologies stock has faced pressure in recent months amid broader solar sector challenges, but Jefferies sees these recent developments as clear tailwinds that will fuel topline growth and reduce risk in the sector.
In other recent news, Array Technologies reported its second-quarter earnings for 2025, exceeding market expectations with an earnings per share (EPS) of $0.25 compared to the projected $0.19. The company also reported revenue of $362 million, surpassing the anticipated $291.41 million. This marks a significant 31.58% increase in EPS and a 24.29% rise in revenue, showcasing strong financial performance. Additionally, Array Technologies has completed its acquisition of APA Solar, expanding its product portfolio to include APA’s engineered foundation systems and fixed-tilt racking systems. APA Solar will continue to operate under its brand as a strategic business unit within Array. In related developments, UBS raised its price target for Array Technologies to $9.00 from $8.50, maintaining a Buy rating. This adjustment reflects UBS’s revised estimates based on Array’s 2025 financial guidance, which suggests stronger gross margins in the latter half of the year. These developments highlight a period of growth and strategic expansion for Array Technologies.
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