Barclays Maintains Overweight Rating for NEXTracker: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has maintained its Overweight rating for NEXTracker (NASDAQ:NXT) but lowered its price target from $52.00 to $50.00. NEXTracker's shares are currently trading down 1.04% at $39.88 per share. A move to $50.00 would represent a 25.38% increase from the current share price.
September 28, 2023 | 5:00 pm
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Barclays has maintained its Overweight rating for NEXTracker but lowered its price target. This could potentially lead to a 25.38% increase in the share price if the target is met.
The Overweight rating indicates that Barclays expects NEXTracker's stock to outperform the average return of the stocks they cover. The lowering of the price target might be due to a reassessment of the company's future earnings potential. However, the new target still represents a significant potential upside from the current price, which could positively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100