Nextracker (NASDAQ:NXT) Coverage Initiated by Analysts at Scotiabank

Scotiabank began coverage on shares of Nextracker (NASDAQ:NXT – Get Rating) in a report released on Monday, The Fly reports. The brokerage issued a sector outperform rating and a $38.00 price target on the stock.

A number of other analysts have also commented on the company. KeyCorp initiated coverage on Nextracker in a research report on Monday. They issued a sector weight rating for the company. JPMorgan Chase & Co. initiated coverage on Nextracker in a research report on Monday. They issued an overweight rating and a $42.00 target price for the company. Barclays started coverage on Nextracker in a research report on Monday. They issued an overweight rating and a $42.00 target price for the company. Cantor Fitzgerald started coverage on Nextracker in a report on Friday. They set an overweight rating and a $40.00 price objective for the company. Finally, Mizuho assumed coverage on Nextracker in a report on Monday. They set a buy rating and a $40.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $40.00.

Nextracker Price Performance

Shares of Nextracker stock opened at $32.45 on Monday. Nextracker has a one year low of $28.51 and a one year high of $34.84.

About Nextracker

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Nextracker Inc is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar power plants. Nextracker Inc is based in SAN JOSE, Calif.