** RBC Capital Markets says implications of changes to the Inflation Reduction Act (IRA) will be a focal point in Q2 for U.S.-based clean energy companies
** Brokerage expects the Q2 focus to be on commentary on longer term demand, pricing, and the competitive landscape
** Expects investors to be looking for safe harbor activity, given the uncertainty with the new safe harbor guidance for the investment tax credits (ITC) for wind and solar
** "Overall sentiment has improved since the One Big Beautiful Bill Act (OBBB) passed, but some uncertainty lingers on the potential for more restrictive safe harbor guidance which we don't believe is reflected in residential solar shares"
** RBC changes price target on the following companies:
Company | New PT | Old PT | Upside/downside to stock's last close |
Array Technologies ARRY.O | $9 | $8 | 21.5% |
Bloom Energy BE.N | $27 | $26 | 4% |
Enphase Energy ENPH.O | $33 | $28 | 21.4% downside |
First Solar FSLR.O | $201 | $200 | 25% |
GE Vernova GEV.N | $561 | $445 | 1.1% |
NEXTracker NXT.O | $67 | $65 | 12% |
SolarEdge Technologies SEDG.O | $22 | $12 | 17.6% downside |
SunRun RUN.O | $12 | $5 | 15.8% |
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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