TD Cowen Raises Nextpower (NXT) PT Following FQ3 Earnings Beat, Raised Outlook

Nextpower Inc. (NASDAQ:NXT) is one of the best performing new tech stocks to buy now. On January 27, TD Cowen raised the price target on Nextpower from $88 to $105, while reiterating a Hold rating. This rating was posted after the company released its FQ3 2026 earnings report on the same day.

In FQ3 2026, Nextpower Inc. (NASDAQ:NXT) reported a 34% year-over-year revenue increase to $909 million, which was driven by a record backlog and robust demand in both US and international markets. This led to Nextpower becoming the first pure-play solar product company to earn a formal investment-grade rating from Fitch, a milestone that management expects will support customer confidence and lower capital costs. Consequently, the firm raised its FY2026 revenue guidance to a range of $3.43 billion to $3.50 billion.

The company also completed the formation of the Nextpower Arabia joint venture with Abu Nayyan Holding, securing a massive 2.25 GW supply commitment for the Bisha Solar Project in Saudi Arabia. While tariffs presented a $44 million headwind during the quarter, management highlighted the successful rollout of new platform components and bundled services like TrueCapture, which are helping to sustain gross margins in the low 30s.

Nextpower Inc. (NASDAQ:NXT) provides solar tracker technologies and solutions for utility-scale and distributed generation solar applications in the US and internationally.

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.