Nextracker dips after Guggenheim downgrades to 'neutral'

Solar tracking equipment maker Nextracker NXT.O shares down around 1% to $53.60 premarket after Guggenheim downgrades its rating ahead of results

Brokerage cuts to "neutral" from "buy" and lowers FY2026 estimates, saying co is "unlikely to show potential upside" compared to analyst estimates when it reports after market close on Wed

Guggenheim adds that rival Array Technologies ARRY.O is becoming increasingly competitive and while it might not lead to market share loss for NXT, they expect rapid share gains in U.S. to end

23 out of 28 analysts rate stock as "buy" or higher, 5 "hold; median PT is $55

As of last close, NXT up 48.1% YTD vs ARRY's 36.6% rise