Eos Energy stock falls after Fuzzy Panda issues short report
Investing.com - Needham initiated coverage on Shoals Technologies Group (NASDAQ:SHLS) with a Buy rating and a $12.00 price target on Wednesday. According to InvestingPro data, the stock has shown remarkable momentum with a 197% return over the past six months, despite trading at a relatively high P/E ratio of 87.7.
The research firm identified Shoals as the category leader in U.S. utility-scale eBOS (electrical balance of systems) with a defendable plug-and-play architecture that reduces labor, compresses schedules, and improves field quality.
Needham noted that following a 2023-2024 reset period involving warranty issues, the founder’s exit, and multiple compression, the company now has a cleaner setup heading into 2026-2027.
The firm highlighted strong domestic solar demand, record backlog and awarded orders, and initial proof points in battery energy storage systems (BESS) as positive factors, with potential near-term upside from data centers.
While debate remains regarding margin durability and mix, Needham believes the company’s backlog, process discipline, and optionality support upside potential, with relative valuation supporting continued stock appreciation.
In other recent news, Shoals Technologies Group has been the subject of several notable developments. Jefferies raised its price target for Shoals Technologies to $9.20, highlighting growth in battery energy storage systems (BESS) and other business segments, while maintaining a Buy rating. Similarly, UBS increased its price target to $9.00, citing the company’s advantageous position in addressing rising electricity demand and battery storage needs associated with data center expansions. Another update from Jefferies saw the price target lifted to $9.00 from $6.00, with an emphasis on anticipated strong top-line growth through 2027.
In addition to analyst actions, Shoals Technologies has expanded its leadership team by appointing Aaron Zadeh as the Country Manager for the Pacific region, where he will oversee operations in Australia, New Zealand, and the Pacific islands. The company also announced the groundbreaking of the Maryvale Solar and Energy Storage Project in New South Wales, Australia. This project is set to deliver approximately 243 MW of solar generation capacity along with 172 MW of battery storage, marking it as one of the largest DC-coupled solar and battery energy storage systems in the country. These recent activities underline Shoals Technologies’ strategic moves in both leadership and project development.
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