NEXTracker's International Growth Prospects Remain Strong Despite Share Price Discount, Analyst Predicts
Portfolio Pulse from Anusuya Lahiri
Truist Financial analyst Jordan Levy maintained a Buy rating on NEXTracker, Inc (NASDAQ:NXT) despite the company's recent share price discount. NEXTracker announced the pricing of a follow-on offering of ~18.2 million shares at $36.50 per share, a ~6% discount to the stock's closing price on June 23. Levy remains bullish on NXT's U.S. and international growth prospects amidst accelerating utility-scale solar development. NXT shares traded lower by 1.93% at $38.67 on the last check Wednesday.
July 05, 2023 | 6:47 pm
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NEXTracker's share price is at a discount, but Truist Financial analyst Jordan Levy maintains a Buy rating on the company. He remains bullish on the company's growth prospects.
The news directly pertains to NEXTracker and its stock price. The analyst's positive outlook despite the share price discount indicates confidence in the company's growth prospects, which could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100