Shoals Technologies Group (SHLS) PT Raised to $9.20 at Jefferies

Jefferies analyst Julian Dumoulin-Smith raised the price target on Shoals Technologies Group (NASDAQ: SHLS) to $9.20 (from $9.00) while maintaining a Buy rating.

The analyst comments "We raise PT to $9.2 as we underwrite upside from tangential business lines (BESS, C&I, International and OEM). Expect 3Q focus to remain on competitive dynamic (NXT) and potential for new orders in BESS. See backdrop for BESS as most attractive with attachment rates (w/ data centers) accelerating meaningfully. With BESS and C&I margins above corp average and opex leverage coupled with revenue CAGR of 16% (2024-27), see pathway to expand EBITDA by 80% thru FY30."

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