FTCI - FTC Solar cut at BofA as delays diffuse margin uplift

FTC Solar ([[FTCI]] -1.8%) slumps as much as 7% before rebounding, after Bank of America downgrades shares to Neutral from Buy with an $11.50 price target, citing risks of further delays in projects across the sector."Growing evidence and expert inputs suggest that we are approaching the tail end of the steel inflation cycle per our metal colleagues view, and as such could see shares further outperform on this point," BofA analyst Julien Dumoulin-Smith says, but "given the latest 2H hedging and success in passing thru for now, we see much of this thesis as resolved."

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FTC Solar cut at BofA as delays diffuse margin uplift