Shoals Technologies Group (SHLS) PT Lowered to $14 at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg lowered the price target on Shoals Technologies Group (NASDAQ: SHLS) to $14.00 (from $24.00) while maintaining a Overweight rating.

The analyst comments "Project delays and higher interest rates continue to impact SHLS, leading to another disappointing 2024 revenue guide that was ~7% below FactSet consensus estimates. We also note ongoing litigation with Voltage, LLC (private) and Hikam America (private), in which SHLS is alleging patent infringement. We believe the litigation presents a potentially sizable binary outcome. SHLS continues to expect a stable adj. EBITDA margin, but incremental uncertainty about FY24 leads us to lower our price target to $14 from $24."

You May Also Be Interested In

• Natera (NTRA) PT Raised to $270 at BTIG
• Allegiant Travel Company (ALGT) PT Raised to $103 at UBS
• Southwest (LUV) PT Raised to $61 at UBS Ahead of Q2 Print