Array Technologies: Buy Rating Reiterated on Strong Backlog and Operational Execution; $12 Price Target Maintained
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Analyst Jeff Osborne of TD Cowen reiterated a Buy rating on Array Technologies, maintaining a $12 price target. This decision is based on the company's strong first-quarter performance and its ability to uphold its full-year outlook despite logistical challenges. Key factors include a record $2.4 billion order book, improved operational efficiency, and a growing share of high-value products. While margins may tighten later due to international exposure and freight costs, the outlook remains positive with strong revenue visibility and demand in utilities and AI data centers.
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