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Benzinga
Benzinga
Business
Akanksha Bakshi

JPMorgan Cuts Price Target Of Three Electrical Equipment Companies

JPMorgan Nasdaq
  • JPMorgan analyst Mark Strouse lowered the price target of three electrical equipment companies.
  • Heading into Q1 prints, Strouse predicts alternative energy demand to remain generally robust, with significant upside to European predictions due to the prolonged energy crisis.
  • According to Strouse, some supply chain risks remain, which may be aggravated by Chinese lockdowns.
  • The analyst lowered Fluence Energy Inc's (NASDAQ:FLNC) price target to $32 (an upside of 197%) from $35 and maintained the Overweight rating on the shares.
  • The analyst reduced Shoals Technologies Group Inc's (NASDAQ:SHLS) price target to $33 (an upside of 143%) from $35 and maintained the Overweight rating on the shares.
  • The analyst lowered Array Technologies Inc's (NASDAQ:ARRY) price target to $30 (an upside of 227%) from $33 and maintained the Overweight rating on the shares.
  • Price Action: FLNC shares are trading higher by 6.99% at $10.80, SHLS higher by 7.7% at $13.57, and ARRY higher by 7.98% at $9.20 on the last check Tuesday.
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