RBC Boosts Nextracker (NXT) Price Target as Software and Robotics Drive Long-Term Growth

Nextracker Inc. (NASDAQ:NXT) ranks among the best sustainability stocks to invest in. On November 13, RBC Capital raised its price target for Nextracker Inc. (NASDAQ:NXT) to $96 from $93 while maintaining an Outperform rating on the company’s shares. RBC Capital stated that Nextracker’s software and robotics advances are strengthening its role as a long-term partner in solar power plant management, resulting in new steady revenue prospects.

The firm believes that these extra capabilities are creating “more sticky relationships” with clients and establishing Nextracker Inc. (NASDAQ:NXT) as a platform solutions vendor rather than merely a hardware maker.

The rating comes after RBC’s previous coverage on October 24, where the firm stated that it expects Nextracker’s accelerating growth in non-tracker orders to continue up to the fiscal third quarter of 2026. RBC also emphasized that Nextracker’s joint venture for the Middle East and North Africa (MENA) area might boost sales growth and improve its competitive position in that region.

Nextracker Inc. (NASDAQ:NXT) is a California-based company that provides solar tracker technologies and solutions. The core offerings of the company include NX Horizon, NX Horizon-XTR, NX Horizon Hail Pro, NX Horizon Low Carbon, and TrueCapture.

While we acknowledge the potential of NXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.