Nextracker Shares Surge 13% After Guggenheim Upgrades to Buy

Nextracker Inc. (NXT) stock surged significantly following a Guggenheim Securities upgrade to a "Buy" rating, motivated by recent IRS guidance on clean-energy incentives. The stock jumped about 13%, with Guggenheim setting a price target of $74, indicating potential upside from its recent price. Nextracker also saw its Relative Strength Rating rise sharply, placing it in the top 11% of all stocks for price performance over the past year, signaling strong growth potential within the solar energy sector. The company leads the Energy-Solar industry group and reported robust financial results, including 25% EPS growth and 20% sales increase. While brokerage consensus rates Nextracker as an "Outperform," valuation estimates show some potential downside, reflecting mixed longer-term views. Investors interested in solar stocks may also consider ETFs like the Invesco Solar (TAN) fund for diversified exposure amid the sector's upward momentum.