ARRY: Policy Shifts And New Products Will Support Turnaround Repricing

Array Technologies' updated analyst price target has shifted modestly, as recent Street research blended lower targets in the $6 to $9 range with a higher $11 call. This reflects analyst reactions to Q2 results, the Affordable Wire Management deal, and ongoing sector uncertainties around renewables costs.

Analyst Commentary

Street research on Array Technologies shows a split view, but there are clear pockets of optimism that highlight how some analysts see the stock’s risk and reward profile. Recent notes cluster price targets between US$6 and US$11, with most ratings around Neutral and one Buy call at the upper end of that range.

Several firms reset their numbers after Q2 results, the Affordable Wire Management acquisition, and sector level questions around solar input costs. For you as an investor, the range of targets and the mix of ratings give a snapshot of how much confidence the market currently has in Array Technologies’ ability to execute on its pipeline and manage renewables related policy risks.

Bullish Takeaways

• Bullish analysts point to the US$11 target at the top of the range as a sign that they see room for upside if Array Technologies executes on its plan. The Buy rating attached to this target signals confidence in the company’s earnings power and order book.
• The Affordable Wire Management acquisition at US$203 million is viewed positively by several analysts. The added wire management platform is seen as high margin and capital light, which they argue could support higher profitability and a stronger valuation if integration goes to plan.
• Commentary tied to the Q2 earnings preview highlights what JPMorgan calls compelling entry points after the recent pullback. That view is based on broad based order and pipeline momentum across clean energy and power infrastructure, which bullish analysts see as supportive for Array Technologies if demand for utility scale solar remains healthy.
• Analysts who maintain Neutral rather than Underperform style ratings, even with reduced targets in the US$6 to US$9 range, often cite long term demand drivers such as power demand growth, data centers, and electrification. Those factors are framed as potential tailwinds for utility scale solar and related equipment suppliers, including Array Technologies, if the company can capture a solid share of new projects.

What’s in the News for Array Technologies

• Array Technologies issued new revenue guidance for Q3 2026 with a range of US$310 million to US$330 million, and maintained full year 2026 revenue guidance at US$1.4b to US$1.5b. Source: company guidance filing.
• Array Technologies launched ARRAY Atlas, a new foundation to tracker suite aimed at creating a more integrated connection between APA foundations and ARRAY trackers, targeting a tracker foundation market the company sizes at over US$1b annually. Source: product announcement.
• Array Technologies announced DuraTrack D2S, a two row tracker system initially rolling out in EMEA, including a first commercial installation in Spain in Q1 2026, with features focused on terrain adaptability and reducing construction and maintenance needs. Source: product announcement.
• The company introduced an upgraded ARRAY OmniTrack terrain following tracker with flex capability of up to 2° between adjacent posts, which the company says can reduce grading requirements, speed commissioning and support permitting by limiting land disturbance. Source: product announcement.
• Reuters reported that the Trump administration is preparing tariffs and a price floor on polysilicon, and is also drafting rules that would restrict or ban imports of certain foreign made power inverters and other Chinese equipment, which could affect multiple U.S. listed solar companies including Array Technologies. Source: Reuters.

Valuation Changes for Array Technologies

• Fair Value has moved from $14.06 to $12.84, which is a modest reduction in the intrinsic value estimate per share.
• Discount Rate has risen slightly from 11.72% to 12.54%, indicating a higher required return being applied to Array Technologies.
• Revenue Growth has increased from 17.63% to 19.38%, reflecting a higher assumed top line expansion rate for Array Technologies.
• Net Profit Margin has risen from 10.43% to 11.48%, implying a slightly stronger expected earnings profile on each dollar of revenue.
• Future P/E has moved from 15.04x to 12.42x, which points to a lower valuation multiple being used for Array Technologies in the updated model.