BUZZ-Nextracker surges after Q3 results beat, profit forecast boost

Solar tracking equipment maker Nextracker's NXT.O shares jump 22.4% to $48.28 premarket

Co reports Q3 rev of $679 mln, compared with analysts' estimates of $650.7 mln, according to data compiled by LSEG

Co posts adjusted EPS of $1.03 vs estimates of 59 cents

Co now expects FY25 adjusted EPS between $3.75 and $3.95, compared with previous forecast of EPS $3.10 to $3.30, and reaffirms full-year rev forecast of $2.8 bln to $2.9 bln

Brokerage TD Cowen raises PT to $47 from $41, J.P. Morgan to $61 from $58, and Piper Sandler to $50 from $47

Piper Sandler raises 2026 rev growth target to 15%, says co can beat market expectations if it hits a $5.0 billion backlog by the end of FY25 and keeps its current revenue conversion rate

Twenty-two of 29 brokerages rate the stock "buy" or higher, seven rate "hold"; their median PT is $54

NXT lost 22.03% in 2024