JPMorgan Cuts Price Target Of Three Electrical Equipment Companies

JPMorgan analyst Mark Strouse lowered the price target of three electrical equipment companies.
Heading into Q1 prints, Strouse predicts alternative energy demand to remain generally robust, with significant upside to European predictions due to the prolonged energy crisis.
According to Strouse, some supply chain risks remain, which may be aggravated by Chinese lockdowns.
The analyst lowered Fluence Energy Inc's FLNC price target to $32 (an upside of 197%) from $35 and maintained the Overweight rating on the shares.
The analyst reduced Shoals Technologies Group Inc's SHLS price target to $33 (an upside of 143%) from $35 and maintained the Overweight rating on the shares.
The analyst lowered Array Technologies Inc's ARRY price target to $30 (an upside of 227%) from $33 and maintained the Overweight rating on the shares.
Price Action: FLNC shares are trading higher by 6.99% at $10.80, SHLS higher by 7.7% at $13.57, and ARRY higher by 7.98% at $9.20 on the last check Tuesday.

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