Sep. 9 at 11:09 AM
$NXT Piper Sandler bullish on Nextpower, initiates with an Overweight
As previously reported, Piper Sandler initiated coverage of Nextpower with an Overweight rating and
$116 price target, implying 39% upside. For FY27/FY28, the firm's revenue estimates are 8%/10% above consensus, while adjusted EBITDA is roughly 4%/1% above consensus, respectively. By FY30, Piper's estimates exceed the company's CMD targets, which it views as conservative given its conviction in international utility-scale solar demand and growth in adjacent products and services. The firm views the company's November CMD as the next catalyst for potential guidance updates and further validation of the long-term outlook.
