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Today's most important initiations

Published 03/03/2023, 07:30 AM
Updated 03/03/2023, 07:30 AM
© Reuters.

© Reuters.

By Davit Kirakosyan

Scotiabank initiated coverage on Array Technologies (NASDAQ:ARRY) with a Sector Outperform rating and a price target of $26.00.

While noting that near-term uncertainties remain on project timing, related to module availability for developers, the firm said that in the long term, it looks for 15%-20% solar capacity growth, which offers Array a strong secular backdrop as well as the potential for increased market adoption of tracker solutions generally.

Shares gained more than 3% today after the company announced preliminary 2022 results and provided guidance for fiscal 2023.

RBC Capital initiated coverage of Moderna (NASDAQ:MRNA) with an Outperform rating and a price target of $200, noting it believes that the COVID cliff and its near-term impact to the P&L is well appreciated given the $5 billion guided 2023 revenue floor, CDC numbers framing how volume is evolving and price, new variants and compliance offering potential upside.

Barclays initiated coverage on KKR (NYSE:KKR) with an Overweight rating and a price target of $69.00.

Scotiabank initiated coverage on SunPower (NASDAQ:SPWR) with a Sector Perform rating and a price target of $20.00.

Barclays initiated coverage on Carlyle Group (NASDAQ:CG) with an Overweight rating and a price target of $41.00.

 
 

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