Jefferies resumes Array Technologies stock coverage with buy rating
Jefferies resumed coverage on Array Technologies (ARRY) with a buy rating and $7.00 price target, citing undervaluation and growth potential. Shares have fallen over 40% in six months. ARRY reported Q2 2026 earnings of $0.24 EPS on $342.1M revenue, beating estimates. UBS downgraded ARRY to Neutral with a $5.00 target, citing cash flow concerns.
How this was made
The 30-second read
Why it matters
Analyst coverage resumption and earnings beat provide fresh catalyst for a short‑term rally, but cash‑flow concerns remain.
Market read
New analyst endorsement and earnings beat could trigger buying interest in ARRY and related clean‑energy stocks.
What to watch
Potential execution risk in meeting the large Q4 target and the impact of UBS downgrade may temper upside.
Background
Array Technologies is a solar‑tracker manufacturer that has struggled with a 40% share decline over six months amid sector weakness.
Ticker impact
Jefferies resumed coverage on Array Technologies with a buy rating and a new $7 price target, citing Q2 earnings beat and a record $2.5B orderbook.
likely upward pressure as the market prices in the higher target and improved earnings outlook
Buy rating and $7 target are above the current $3.83 price; Q2 results beat expectations, supporting a rally.
Market effects
Positive for solar tracker and broader clean‑energy equipment sector as the upgrade may lift peers.
U.S. clean‑energy equities could see modest gains.
Limited to investors tracking renewable‑energy supply chain.
Counterpoint
The preferred equity payment risk and transition to cash dividends could pressure cash flow, making the buy rating premature.
Key entities
- AnalystJefferies
Resumed coverage with buy rating and $7 target.
- AnalystUBS
Downgraded to neutral, lowering its target to $5.
