Northland downgraded Nextracker (NXT) to Market Perform from Outperform with a price target of $44, down from $60, ahead of the company's Q4 report on the view that Nextracker will be "hit with the same headwinds" Array Technologies (ARRY) and Shoals Technologies (SHLS) were hit by last quarter. The firm cites several reasons for the delayed impact on Nextracker, including a more aggressive effort to get product shipped to sites in a "good enough" position to take delivery and the fact that the company has not had to put out full-year guidance yet because of it's March 31 fiscal year end.

Wells Fargo notes that a group of seven domestic solar product makers, including First Solar (FSLR), filed a petition to levy anti-dumping and countervailing duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam, looking for duties ranging from 70.4% to 271.5%. The firm, which included the "important reminder" that "this is just a petition," says the uncertainty created by the petition is "incrementally positive" for First Solar and negative for Canadian Solar (CSIQ), Array Technologies (ARRY) and Nextracker (NXT).