Fed’s "dot plot" seen projecting three rate cuts by the end of 2025 - Barclays
Investing.com - Nextracker Inc (NASDAQ:NXT) maintained its Buy rating and $75.00 price target at UBS following its acquisition of Origami Solar. The solar tracking company, which has delivered an impressive 76% return year-to-date according to InvestingPro data, is currently trading near its Fair Value.
UBS reaffirmed its position on the solar tracking company after Nextracker announced a $53 million all-cash acquisition of Origami Solar, a U.S. manufacturer of steel solar panel frames. The company’s strong financial position, with more cash than debt and a "GREAT" financial health score on InvestingPro, supports its strategic acquisition moves.
The acquisition represents a shift in Nextracker’s M&A strategy, according to UBS, as the company moves upstream to supplying utility-scale hardware manufacturers rather than focusing on integrated solar project platforms for developers.
Origami Solar manufactures frames using 100% U.S. steel, which UBS believes provides Nextracker greater upside exposure to protectionist trends in policy.
These trends could lead to increased demand for domestically manufactured energy hardware, potentially benefiting Nextracker’s market position in the solar equipment sector.
In other recent news, Nextracker Inc. reported impressive first-quarter results for fiscal year 2026, surpassing both earnings and revenue projections. The company achieved an earnings per share of $1.16, significantly higher than the anticipated $0.61, and revenue of $864 million, exceeding the expected $632.94 million. Following these results, Mizuho raised its price target for Nextracker to $66, citing the company’s improved guidance and recent business expansions in robotics and artificial intelligence. Similarly, TD Cowen increased its price target to $65, acknowledging the strong quarter and the company’s record backlog. In addition, Nextracker shareholders conducted their annual meeting, where they elected directors and approved various proposals. Meanwhile, NextGen Digital Platforms Inc. appointed Mark Creaser, a leader in the Bittensor ecosystem, as an advisor, bringing his expertise in decentralized AI and Web3 infrastructure to the company. These developments highlight the ongoing strategic and financial activities within these companies.
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