Needham Starts Nextracker Inc (NXT) at Buy

Needham analyst Sean Milligan initiates coverage on Nextracker Inc (NASDAQ: NXT) with a Buy rating and a price target of $102.00.

The analyst comments "We are initiating coverage of Nextracker (NXT) with a BUY and $102 price target. NXT is the market leader in utility-scale trackers, differentiated by independent-row architecture and a broad U.S. manufacturing footprint. A record >$4.75B backlog provides multi-year visibility. Growth vectors beyond trackers—eBOS, foundations, robotics/automation, software, and steel frames—expand TAM and support rising non-tracker mix in 2026. A strong balance sheet ($743M cash, no debt) and robust FCF give ample liquidity and optionality for organic investment, tuck-in/platform M&A, and shareholder returns. Management plans a Nov ’25 Capital Markets Day to outline multi-year expansion and capital priorities-we see this as a nearterm catalyst."

For an analyst ratings summary and ratings history on Nextracker Inc click here. For more ratings news on Nextracker Inc click here.

Shares of Nextracker Inc closed at $89.70 yesterday.

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