Shoals Technologies Group Inc Ordinary Shares - Class A
SHLS: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$4.00 | Yqql | Lfzcymkmg |
Shoals Is On Track to Deliver Solid 2022 Despite Industry Headwinds; We View Shares as Overvalued
We raise our fair value estimate for Shoals to $20 per share from $18 following its third-quarter results. A higher medium-term revenue forecast is the primary driver behind our revised valuation. Despite our valuation increase, we view Shoals as overvalued in light of the sharp move higher following the release.