3 “Strong Buy” Solar Stocks from Wall Street – Week of 4/2

Renewable energy, and solar energy in particular, has been gaining significant momentum as the world looks for sustainable solutions to combat climate change. As governments, corporations, and individuals increasingly prioritize clean energy sources, the solar industry has experienced rapid growth in recent years. Investors looking to capitalize on this trend may find lucrative opportunities in solar energy stocks.

Here are three “Strong Buy” solar stocks from Wall Street –

Array Technologies, Inc. – SYM: ARRY
Recent Price: $19.55
Price Target: $27.82
Firms with Buy Rating: Goldman Sachs, Piper Sandler, J. P. Morgan
Description: Array Technologies, Inc. manufactures and sells ground-mounting tracking systems used in solar energy projects in the United States, Spain, Brazil, Australia, and internationally. The company operates in two segments, Array Legacy Operations and STI Operations.

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Nextracker Inc. – SYM: NXT
Recent Price: $32.25
Price Target: $40.20
Firms with Buy Rating: J.P. Morgan, Credit Suisse, Truist Financial
Description: Nextracker Inc., an energy solutions company, provides solar tracker solutions for PV projects. The company offers solar trackers, such as Bifacial PV modules for large-scale solar; NX Horizon for solar power plants; NX Gemini two-in-portrait solar tracker that optimizes lifetime value and performance of power plants for project developers and asset owners; and NX Horizon XTR, an all-terrain solar tracker. It also provides TrueCapture, an intelligent and self-adjusting tracker control system for PV power plants; and NX Navigator, an operational control and risk mitigation software. The company was incorporated in 2013 and is based in Fremont, California. Nextracker Inc. operates as a subsidiary of Flex Ltd.

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MasTec, Inc. – SYM: MTZ
Recent Price: $93.84
Price Target: $115.25
Firms with Buy Rating: Citigroup, Stifel Nicolaus, Barclays
Description: MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. The company builds underground and overhead distribution systems, including trenches, conduits, cell towers, fiber, cable, and power lines, which provide wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy power generation; natural gas, carbon capture sequestration, and other product transport; electrical and gas transmission, and distribution systems; industrial and heavy civil infrastructure; compressor and pump stations, and treatment plants; and water infrastructure, including water pipelines. It also installs electrical and other gas distribution and transmission systems, power generation facilities, buried and aerial fiber optic and other cables, as well as home automation and energy management solutions. In addition, the company offers maintenance and upgrade support services comprising maintenance of customers’ distribution facilities, networks, and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission, and industrial and heavy civil infrastructure; service restoration for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, public and private energy providers, pipeline operators, heavy civil and industrial infrastructure providers, and government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.

 

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