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On Wednesday, Jefferies analyst Julian Dumoulin-Smith increased the price target on Array Technologies (NASDAQ: ARRY) stock to $7.00, up from the previous $6.00, while reaffirming a Buy rating. The stock currently trades at $5.15, with a market capitalization of $785 million. According to InvestingPro analysis, Array Technologies appears undervalued based on its Fair Value assessment, aligning with Jefferies’ bullish stance. The adjustment follows Array Technologies’ confirmation of its fiscal year guidance and the disclosure of robust U.S. bookings with a book-to-bill ratio of 1.2 times. Dumoulin-Smith highlighted that with the remainder of 2025 already in the backlog, any additional book and turn activities could contribute to further upside for the company. The company maintains strong liquidity with a current ratio of 2.39, and InvestingPro data shows analysts expect positive net income growth this year.
Array Technologies has expressed confidence in achieving its full-year guidance despite the uncertain macroeconomic environment. However, conversations for the second half of 2026 and beyond are still in flux as developers seek greater clarity on the current tariff and Inflation Reduction Act (IRA) outlook. The analyst pointed out that while there may be some project pushouts in the latter half of 2026, these could be partially compensated by higher average selling prices (ASPs) on steel starting in 2026. With annual revenue of $1.06 billion and positive earnings forecasts, InvestingPro subscribers can access 10+ additional exclusive insights about Array’s financial health and growth prospects.
The company’s recent performance and forward-looking statements have been taken into account by Jefferies, which believes that the current and future business prospects for Array Technologies remain positive. The updated price target reflects the firm’s analysis of these factors and their potential impact on the stock’s value.
Investors and stakeholders in Array Technologies may view the revised price target and sustained Buy rating as an indicator of the company’s solid standing and potential for growth, according to Jefferies’ assessment. The firm’s commentary underscores the balance of opportunities and challenges that Array Technologies may face in the near to medium term.
In other recent news, Array Technologies Inc (NASDAQ:ARRY). reported impressive financial results for the first quarter of 2025, exceeding market expectations. The company announced an earnings per share of $0.13, surpassing the forecasted $0.07, and reported revenue of $302.4 million, which was significantly higher than the anticipated $256.58 million. This represents a 97% year-over-year increase in revenue. Additionally, Array Technologies recorded a net income of $2.3 million, marking a turnaround from a net loss in the previous year. The company’s adjusted gross margin was reported at 26.5%, with an adjusted EBITDA of $40.6 million.
Array Technologies has also projected revenue for the full year 2025 to be between $1.05 billion and $1.15 billion, with an expected 30% volume growth. The company anticipates an adjusted EBITDA growth of 9.5% and adjusted net income per share growth of 8.5%. Despite facing market uncertainties such as tariffs and challenges related to the Inflation Reduction Act, the company remains focused on maintaining operational efficiency and expanding its product offerings. The company has a strong order book maintained at $2 billion, despite policy-related headwinds.
In terms of market dynamics, Array Technologies is navigating potential impacts from tariffs and commodity price increases, while actively engaging with customers to manage these challenges. The company continues to emphasize its strategic focus on innovation and operational efficiency, with CEO Kevin Hostetler highlighting resilience as a key priority. These developments reflect Array Technologies’ robust market position and strategic execution in the face of global economic uncertainties.
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