BUZZ-Nextracker surges after profit forecast raise

Updates

Solar tracking equipment maker Nextracker's NXT.O shares jump 23.9% to $49.12 - set for its biggest one-day percentage rise since Oct. 31, if gains hold

NXT raises FY25 adjusted EPS forecast to between $3.75 and $3.95 from previous range of $3.10-$3.30

Co reports Q3 adjusted EPS of $1.03, beating analysts' estimates of 59 cents - LSEG data

At least 10 brokerages raise PT after results

Piper Sandler raises 2026 rev growth target to 15% and expects co to beat market expectations if it hits $5 billion backlog by FY25-end while keeping current rev conversion rate

*Co's current backlog is more than $4.5 bln

Truist Securities says NXT's expanding footprint in India and Australia aligns the countries' policies to boost solar manufacturing

22 of 29 brokerages rate the stock "buy" or higher, 7 rate "hold"; their median PT is $54