BUZZ-Northland resumes coverage of Nextracker with 'outperform' rating

Reuters11-20
BUZZ-Northland resumes coverage of Nextracker with 'outperform' rating

** Northland resumes coverage of solar tracking equipment maker Nextracker NXT.O with "outperform" rating

** Brokerage says utility-scale solar energy cost lower than fossil fuels in most places

** Northland says cloud service providers prioritizing clean energy is driving solar energy demand

** "The cost of energy storage systems is decreasing and increasing the utility of solar power," says Northland

** Brokerage sets PT at $48, a ~28.2% upside to stock's last close

** Twenty-two of 28 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $55 - LSEG data

** Including session's moves, stock down ~20.3% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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