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Benzinga
Benzinga
Business
Akanksha Bakshi

Truist Turns Bullish On Shoals Technologies - Read Why

Shoals (Organization) SHLS Nasdaq Truist Securities United States
  • Truist Securities analyst Bronson Fleig upgraded Shoals Technologies Group Inc (NASDAQ:SHLS) to Buy from Hold and raised the price target to $25 (an upside of 33%) from $16.
  • The analyst specified that the two-year tariff exemption on solar imports from countries providing critical U.S. supply provides much improved near-term visibility for the company's core solar EBOS business.
  • Related: Why Shoals Technologies Group Shares Are Rising
  • Fleig mentions that he has also become more confident in Shoals' growth prospects for ex-U.S. and non-solar EBOS businesses.
  • Price Action: SHLS shares are trading higher by 0.99% at $18.805 on the last check Thursday.
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