Baird Maintains Outperform on Nextpower, Lowers Price Target to $116
Baird analyst Ben Kallo maintains Nextpower (NASDAQ:NXT) with a Outperform and lowers the price target from $156 to $116.
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Nextpower Receives Patent From U.S. Patent And Trademark Office For Its NX PowerMerge Electrical Balance Of Systems Solution
Nextpower™ (Nasdaq: NXT), a leading provider of clean power technology solutions, today announced that the U.S. Patent and Trademark Office has issued U.S. patent number 12,712,292, which covers its NX PowerMerge™
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Why Nextpower (NXT) Outpaced the Stock Market Today
Nextpower (NXT) closed at $82.76, up 2.84% daily and outperforming the S&P 500's 1.49% gain. However, the stock declined 6.63% over the past month. The company is expected to report EPS of $1.11 (down 6.72% YoY) with quarterly revenue of $1.08 billion (up 19.17% YoY). NXT holds a Zacks Rank #3 (Hold) with a Forward P/E of 17.24, trading at a premium to its industry average of 11.02. The Solar industry ranks in the bottom 5% of all industries.
Shares of data center infrastructure-related companies are trading higher as retreating oil prices and bond yields help risk assets rebound. Also, the sector may be reacting positively to Generac and Vicor hyperscaler-related deals.
Piper Sandler Initiates Coverage On Nextpower with Overweight Rating, Announces Price Target of $116