Shoals Technologies Group (SHLS) PT Lowered to $20 at Roth Capital

May 17, 2022 12:18 PM EDT
Get Alerts SHLS Hot Sheet
Price: $26.43 -4.58%

Rating Summary:
    9 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 24 | New: 19
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Roth Capital analyst Philip Shen lowered the price target on Shoals Technologies Group (NASDAQ: SHLS) to $20.00 (from $37.00) while maintaining a Buy rating following earnings.

The analyst commented, "SHLS delivered a substantial Q1'22 margin beat and sees margin strength through 2022. Moreover, while the company lowered its 2022 guide, management maintained the low end of its prior revenue target, which was likely better than feared and highlights the strength of the company’s business. That said, visibility into 2023 remains challenged with the AntiCirc disruption. We maintain our Buy on healthy risk/reward, though buyers may need to be more patient than expected. PT to $20 from $37."

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