Barclays Downgrades NEXTracker to Equal-Weight, Raises Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Christine Cho downgraded NEXTracker (NASDAQ:NXT) from Overweight to Equal-Weight but raised the price target from $55 to $63.
April 02, 2024 | 7:00 pm
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Barclays downgraded NEXTracker from Overweight to Equal-Weight, while raising the price target from $55 to $63.
The downgrade to Equal-Weight suggests a neutral outlook on NEXTracker's stock, indicating that Barclays believes the stock might perform in line with the market. However, the increase in the price target from $55 to $63 signals a positive view on the company's valuation, potentially leading to mixed short-term market reactions. Investors might weigh the downgrade against the higher price target, leading to uncertain short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90