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Matrix Technologies (NASDAQ: ARRY) +6.6% in Wednesday trading, recouping all of the previous session’s sharp drop as Jefferies upgrades to Buy from Hold with an $11 price target, saying the solar tracking company’s foundation is “poised for continued growth.”
Matrix approach (ARRY) Building a higher-quality order book, competitive ASPs, improving cost structure and recovering margins should enable profitable market share gains, according to Jefferies analyst Julien Dumoulin-Smith, who believes the stock’s discounted valuation compared to its clean energy peers offers an attractive entry point.
Its closest peer, Nextracker (NXT), is entrenched with a better business strategy, but Array (ARRY) is poised to prove to the market that it is no longer losing market share in 2025, the analyst says, adding that the stock’s marked underperformance versus Nextracker has likely bottomed out.
Array’s (ARRY) weak guidance record is a concern, but Dumoulin-Smith says the worst of the reviews is over.