NEXTracker shares are trading lower after Barclays downgraded the stock from Overweight to Equal-Weight but raised its price target from $55 to $63.
Portfolio Pulse from Benzinga Newsdesk
NEXTracker's stock price declined following a downgrade by Barclays from Overweight to Equal-Weight, despite an increase in the price target from $55 to $63.

April 02, 2024 | 7:28 pm
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NEGATIVE IMPACT
NEXTracker's stock experienced a decrease after Barclays downgraded the stock but raised its price target.
The downgrade by Barclays from Overweight to Equal-Weight suggests a neutral outlook on the stock, which typically leads to a short-term negative reaction in the stock price. However, the increase in the price target from $55 to $63 indicates a positive long-term outlook, which might mitigate the negative impact to some extent.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100