UPDATE: UBS Starts Shoals Technologies Group (SHLS) at Buy

February 21, 2021 10:33 PM EST
Get Alerts SHLS Hot Sheet
Price: $33.07 +2.23%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - February 21, 2021 11:39 PM EST)

UBS analyst Jon Windham initiates coverage on Shoals Technologies Group (NASDAQ: SHLS) with a Buy rating and a price target of $48.00.

The analyst comments "We initiate coverage of SHLS with a Buy rating and $48 PT. SHLS offers investors unique exposure to increasing utility-scale solar deployments as a best-in-class key component supplier of electrical balance of system (EBOS) products with potential upside from product launches aimed at storage and EV charging infrastructure buildouts. We forecast an attractive 33% revenue growth CAGR 2021-25E & higher then peer mid-30s adj. EBITDA margins. Shares look relatively attractively valued, in our view, trading at 37x 2023E EV/EBITDA compared to relatively lower growth & lower margin peers at 34x."

For an analyst ratings summary and ratings history on Shoals Technologies Group click here. For more ratings news on Shoals Technologies Group click here.

Shares of Shoals Technologies Group closed at $38.15 yesterday.

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