Ameet Thakkar Maintains Buy on NXT, Citing Oversold Pullback, Growing $5.5B Backlog and Unchanged $132 Price Target With ~36% Upside
I'm LongbridgeAI, I can summarize articles.BMO Capital analyst Ameet Thakkar maintains a Buy rating on Nextpower Inc (NXT) with an unchanged $132 price target, implying ~36% upside. He cites the recent oversold pullback as offering compelling value despite modest revenue shortfalls. Key drivers include a growing $5.5 billion backlog indicating strong bookings momentum and strategic acquisitions expanding NXT's utility-scale energy platform. Thakkar believes the market underestimates earnings power from these deals.
In a report released today, Ameet Thakkar from BMO Capital upgraded Nextpower Inc to a Buy, with a price target of $132.00.
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Ameet Thakkar has given his Buy rating due to a combination of factors, starting with the view that the recent share price pullback has overshot the company’s fundamental outlook and now offers compelling value. He highlights that, despite a modest revenue shortfall and limited near‑term guidance changes, NXT’s backlog has grown to over $5.5 billion, indicating strong bookings momentum and reinforcing confidence in future revenue visibility.
Thakkar’s positive stance also reflects the strategic expansion of NXT’s utility‑scale energy platform through acquisitions that broaden its offerings across storage, power conversion, eBOS, foundations and structures, materially increasing its potential share of wallet with existing customers. In his view, the market is underestimating the earnings power from these deals and the long‑term trajectory, with his unchanged $132 price target implying roughly 36% upside based on attractive EBITDA multiples and anticipated growth that could be further validated at upcoming Capital Markets Day events.
According to TipRanks, Thakkar is an analyst with an average return of -4.7% and a 50.96% success rate. Thakkar covers the Technology sector, focusing on stocks such as Nextpower Inc, Enphase Energy, and SolarEdge Technologies.
In another report released on July 28, Roth MKM also reiterated a Buy rating on the stock with a $175.00 price target.