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

Array Technologies, Inc. (NASDAQ:ARRY) is included among the 10 Best Clean Energy Stocks to Buy Right Now.Analyst Raises Array Technologies (ARRY) Price Target Following Surprise Q1 Profit

Array Technologies, Inc. (NASDAQ:ARRY) is a leading American company and a global provider of utility-scale solar tracker technology.

On May 8, Morgan Stanley raised its price target on Array Technologies, Inc. (NASDAQ:ARRY) from $7 to $8, but kept its ‘Equal Weight’ rating on the shares.

The revised estimate comes after Array Technologies, Inc. (NASDAQ:ARRY) delivered a surprise profit in its Q1 2026 report on May 6. The company posted an adjusted EPS of $0.06, topping expectations of a loss per share of $0.05. The company’s revenue of $223.4 million also exceeded expectations by just under $22 million, despite a YoY decline of 26% due to lower ASPs driven by project mix.

Array Technologies, Inc. (NASDAQ:ARRY) reported an adjusted EBITDA of $29 million in the first quarter, an $18 million improvement sequentially. Volumes also increased by approximately 15% QoQ. Notably, the company ended the quarter with a record $2.4 billion order book, driven by growing traction for its latest products.

Array Technologies, Inc. (NASDAQ:ARRY) is expecting its Q2 revenue to be in the range of  $300 million to $320 million, while full-year 2026 revenue is targeted at $1.4 billion to $1.5 billion. Adjusted EBITDA for the year is forecasted to come in at $200 million to $230 million.

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