Gold bars to be exempt from tariffs, White House clarifies
Investing.com - Oppenheimer has reiterated an Outperform rating on Array Technologies (NASDAQ:ARRY) with a price target of $13.00, following the company’s second-quarter 2025 financial results. The target represents significant upside potential from the current price of $5.84, with InvestingPro analysis suggesting the stock is currently undervalued.
Array Technologies delivered strong results for the second quarter of 2025 while raising its 2025 revenue guidance by approximately 9% at the midpoint and maintaining its EBITDA guidance. According to InvestingPro data, analysts expect revenue growth of 24% for fiscal year 2025, with the company maintaining a healthy current ratio of 2.39.
Oppenheimer expressed encouragement regarding Array’s traction with its expanding portfolio and the improving quality of its backlog, noting that the company reported no debookings during the quarter.
The research firm sees potential for Array to experience further upside to its late-2025 financial performance with the integration of APA and with customers working aggressively against ITC (NSE:ITC) expiration deadlines.
Oppenheimer remains constructive on Array Technologies as the company’s deleveraging story continues to unfold, and the firm believes equipment providers in the power sector may have opportunities to raise prices, a dynamic that could begin appearing in Array’s bookings later this year into next.
In other recent news, Array Technologies announced its plan to supply solar trackers for a 200 megawatt project in Indiana, developed by ENGIE North America. This marks the company’s first full-site deployment of trackers meeting 100% domestic content requirements, qualifying for a 28.7% Assigned Cost Percentage under new U.S. Treasury guidelines. Additionally, Array Technologies recently issued $300 million in convertible senior notes, which expanded to $345 million with an overallotment option. These notes, due in 2031, carry a 2.875% coupon rate and are intended to retire existing debt, fund capped call transactions, and support other corporate purposes. Mizuho (NYSE:MFG) maintained a neutral rating with a $9.00 price target for Array Technologies, while Goldman Sachs continued to support a buy rating with an $11.00 price target. The company also announced plans to offer $250 million in additional convertible senior notes, with an option for purchasers to acquire up to an additional $37.5 million. These notes are senior, unsecured obligations with semiannual interest payments, and conversions will be settled in cash or stock at Array’s discretion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.