7/102 sources · 2 publishersUpdated Oct 15, 18:38 UTC
Mizuho upgrades Array Technologies to Outperform and cuts price target to $5.00
Mizuho Securities raised its rating on Array Technologies (NASDAQ:ARRY) from Neutral to Outperform. The firm lowered its price target to $5.00 from $7.00, citing a strong order backlog, expected 2027 recovery, and margin expansion that should sustain earnings through 2030. The stock was trading around $3.38, down 64% year‑to‑date, and rose about 3.1% after the upgrade was announced.
Why it matters
The downgrade in price target reflects the cash outlay for recent acquisitions, while the rating upgrade signals Mizuho’s confidence in future earnings, which may influence investor sentiment and short‑term trading activity.
Key facts
- 1Mizuho upgraded Array Technologies to Outperform from Neutral. investing.com
- 2Mizuho lowered its price target to $5.00 from $7.00. investing.com
- 3The stock was trading at $3.38, down 64% year‑to‑date. investing.com
- 4Mizuho expects a recovery in 2027 supported by the backlog and acquisitions. investing.com
- 5Mizuho cited bookings growth and margin expansion to support earnings through 2030. seekingalpha.com
- 6Array Technologies shares rose 3.1% on Thursday after the upgrade. seekingalpha.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.