Goldman Sachs has 5 solar stocks to buy now with upside potential of 40% to over 100% – 24/7 Wall St.



The hottest sector over the past year has been energy, but part of that sector has massively followed the oil complex. Major solar stocks, which only a few years ago were among the hottest on Wall Street, have been completely gutted over the past year and a half. This can offer aggressive growth investors a chance to make incredible gains.

Goldman Sachs analysts who cover solar power have recently made some much-needed target price cuts on some of the major companies. For aggressive investors looking to fish the bottom and make huge deals at exceptional entry points, now may be the time.

We sifted through target price changes, all of which were at least 10%, and found five well-known buy-rated stocks with massive upside potential from Goldman Sachs’ price targets. It is important to remember that no single analyst report should be used as the sole basis for any buy or sell decision.

Network technologies

This company is still sometimes confused with a similarly named biotech that Pfizer bought in 2019. Array Technologies Inc. (NASDAQ: ARRY) provides solar tracking solutions and services for large-scale projects. Its products include DuraTrack HZ v3, a single-axis solar tracking system, and SmarTrack, a machine-learning software that automatically adjusts module angles based on weather and site conditions.

This stock went through a fiery IPO last year. The shares were priced upfront because the first trade was 34% above the raised IPO price. A total of 47.5 million shares were sold in the offering as the maker of ground mounting systems used in solar power projects sold 7 million shares to raise 154 million dollars and a selling shareholder sold 40.5 million shares.

Since then, Array Technologies stock has crashed and offers investors an incredible entry point.

Goldman Sachs lowered its target price from $24 to $20, while analysts’ consensus target is $23. Reaching Goldman Sachs’ target would represent a nearly 90% gain, as shares closed Tuesday at $10.89. It was up more than 3% for the day.

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