Analyst Raises Array Technologies (ARRY) Price Target Following Surprise Q1 Profit

Array Technologies, Inc. (NASDAQ:ARRY) is simply a starring American institution and a planetary supplier of utility-scale star tracker technology.

On May 8, Morgan Stanley raised its terms people connected Array Technologies, Inc. (NASDAQ:ARRY) from $7 to $8, but kept its ‘Equal Weight’ standing connected the shares.

The revised estimation comes aft Array Technologies, Inc. (NASDAQ:ARRY) delivered a astonishment nett successful its Q1 2026 study connected May 6. The institution posted an adjusted EPS of $0.06, topping expectations of a nonaccomplishment per stock of $0.05. The company’s gross of $223.4 cardinal besides exceeded expectations by conscionable nether $22 million, contempt a YoY diminution of 26% owed to little ASPs driven by task mix.

Array Technologies, Inc. (NASDAQ:ARRY) reported an adjusted EBITDA of $29 cardinal successful the archetypal quarter, an $18 cardinal betterment sequentially. Volumes besides accrued by astir 15% QoQ. Notably, the institution ended the 4th with a grounds $2.4 cardinal bid book, driven by increasing traction for its latest products.

Array Technologies, Inc. (NASDAQ:ARRY) is expecting its Q2 gross to beryllium successful the scope of  $300 cardinal to $320 million, portion full-year 2026 gross is targeted astatine $1.4 cardinal to $1.5 billion. Adjusted EBITDA for the twelvemonth is forecasted to travel successful astatine $200 cardinal to $230 million.

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