SHLS - RBC Illuminates Solar Sector Launches Coverage For 4 Solar Equipment Leaders | Benzinga
RBC Capital Markets highlighted favorable public policy and declining costs within the solar industry and initiated coverage on several solar equipment suppliers on Tuesday. Here's a look at the details.
Solar Equipment Suppliers: RBC analyst Christopher Dendrinos initiated coverage on First Solar Inc. (NASDAQ:FSLR) with an Outperform rating and a $195 price target. Dendrinos pointed to First Solar's future revenue and noted the company is sold out through 2026 (excluding India) and contracting sales for 2027.
The RBC analyst also noted First Solar maintained a dominant position in the utility-scale domestic market with opportunities to grow both domestically and internationally.
RBC also initiated coverage on Enphase Energy Inc. (NASDAQ:ENPH) with a $140 price target for the stock. RBC highlighted Enphase as the leader in the U.S. residential market with a more than 50% market share of residential home inverters. Dendrinos believed Enphase created a competitive moat with ...