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Investing.com - UBS raised its price target on Shoals Technologies Group (NASDAQ:SHLS) to $12.00 from $9.00 on Wednesday, while maintaining a Buy rating on the stock. The new target closely aligns with InvestingPro’s Fair Value assessment, suggesting the stock may be currently undervalued despite its impressive 67% gain year-to-date.
The solar and electrical balance of systems provider reported third-quarter 2025 adjusted EBITDA of $32 million, which was 3% below consensus expectations. The company, currently valued at $1.55 billion, has generated $433.99 million in revenue over the last twelve months.
Shoals highlighted its record backlog of $721 million, which includes $18 million of orders for battery storage and data center products.
UBS noted that the record backlog underscores the scale of demand for clean energy generating projects driven by load growth from data centers and large technology companies.
The firm’s Buy rating is supported by Shoals’ increasing exposure to higher-growth battery storage and data center end markets.
In other recent news, Shoals Technologies Group reported its third-quarter 2025 earnings, showcasing a 32.9% increase in revenue year-over-year, reaching $135.8 million. Despite this positive revenue growth, the company fell short of earnings per share (EPS) expectations, reporting an EPS of $0.07 compared to the forecasted $0.13. This represented a negative surprise of 46.15%. The discrepancy between the revenue and EPS results has drawn attention from investors. No significant mergers or acquisitions were reported during this period. Analyst firms have not announced any upgrades or downgrades for Shoals Technologies at this time. These developments highlight the company’s mixed performance in the recent quarter.
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