Jefferies resumed coverage of Array Technologies Inc. with a Buy rating and a $7.00-per-share price target after a period of restriction. The firm reaffirmed its positive view as the company's stock has fallen significantly over the past six months.
Jefferies attributed the recent weakness to a broader clean-energy sector sell-off and investor concerns. It cited Array's record $2.5 billion order book and strategic shift toward becoming an integrated balance-of-system platform provider as positives.