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$ARRY

4 stories mentioning ARRYUpdated 2d ago

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Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.

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Wire

Array Technologies Has Less Flexibility to Expand Offering, Defend Competitive Position, UBS Says

Array Technologies (ARRY) likely has less flexibility to expand its product offering and defend its competitive position as it transitions its preferred dividend payment method to cash from payment-in-kind, UBS Securities said in a note Friday.Analysts said the transition changes the outlook for free cash flow deployment.While the company is expected to generate sufficient free cash flow to cover the preferred dividend, the transition reduces cash available for deleveraging and growth, particularly through mergers and acquisitions, according to the note.Analysts said, however, that they have a positive view on the direction of the US solar industry, particularly for companies with domestic manufacturing footprints like Array.UBS downgraded the stock to neutral from buy, and lowered its price target to $5 from $10.Shares of Array Technologies were down 8.3% in Friday trading.Price: $3.89, Change: $-0.35, Percent Change: -8.25%

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Research

UBS Downgrades Array Technologies to Neutral From Buy, Adjusts Price Target to $5 From $10

Array Technologies (ARRY) has an average rating of overweight and mean price target of $8.69, according to analysts polled by FactSet.

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Wire

Array Technologies' New Products Gain Traction, RBC Says

Array Technologies (ARRY) continues to see growing traction from its new products, with about 50% of the company's order book now made up of new products, RBC Capital Markets said.The company has launched five new products developed alongside its customers this year alone, while also simplifying its portfolio by reducing the number of individual components and connection points, according to the note Thursday.RBC said ARRY's approach of refining its product portfolio alongside customers will be a key driver of its opportunity to capture more market share going forward. The feedback loop will also continue to inform strategic acquisitions, as demonstrated by the APA Solar and pending Affordable Wire Management acquisitions.Additionally, APA Solar is seeing accelerated growth and interoperability benefits from its integration with Array. The average project size in the pipeline has doubled, A-Frame quote requests rose about 50% sequentially in Q2, and year-to-date book-to-bill was 1.5 times despite a slow first quarter due to extreme weather, the investment firm said.RBC has a sector perform rating and a $9 price target on the company's stock.Price: $4.72, Change: $+0.01, Percent Change: +0.21%

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Wire

Market Chatter: US Considers Price Floor, Tariffs on Polysilicon to Counter China

The US government is considering to set a price floor and enforce tariffs on polysilicon and derivative products in a bid to bolster efforts to challenge China in the solar panel and semiconductor industries, Reuters reported Tuesday, citing four sources familiar with the plan.The plan is expected to advance later in the month and will allow investors in US wafer and cell production to offset the costs brought about by the trade protections, according to the report.The US Department of Commerce did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $16.11, Change: $+0.59, Percent Change: +3.80%

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