Nextracker Inc (NXT) shares surged 5.32% in pre-market trading on Thursday, as multiple Wall Street analysts raised their price targets following the company's robust financial forecasts for fiscal year 2026.
The solar tracking systems maker saw a flurry of analyst upgrades, with JP Morgan raising its target price to $65 from $61, Jefferies increasing to $63 from $50, and BofA Global Research lifting its price objective to $65 from $55. These upgrades came after Nextracker forecasted fiscal year 2026 revenue and profit above market expectations, signaling strong confidence in the company's growth prospects.
The positive sentiment was further reinforced by additional price target hikes from other prominent firms. Citigroup raised its target to $58 from $51, BMO increased to $59 from $51, and Susquehanna boosted its target to $66 from $54. The average rating for Nextracker remains "overweight" with a mean price target of $61.42, according to analysts polled by FactSet. This wave of optimistic analyst revisions underscores the market's growing confidence in Nextracker's ability to capitalize on the expanding solar energy sector.
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