BMO Lifts Array Technologies (ARRY) Price Target on Strong Bookings

Array Technologies Inc. (NASDAQ:ARRY) is one of the best solar energy stocks to buy right now. BMO Capital raised its price target on Array Technologies (NASDAQ: ARRY) from $8.50 to $9.00 on November 6, keeping a Market Perform rating. The firm cited stronger-than-expected net bookings of around $500 million in the quarter, well above the $350 million forecast, with a book-to-bill ratio of 1.25x. Despite mixed Q3 results, the company raised its 2025 revenue outlook.

BMO Lifts Array Technologies (ARRY) Price Target on Strong Bookings

foxbat/Shutterstock.com

However, BMO noted that margin and EBITDA guidance remain slightly lower. Analysts are waiting for clearer signs of margin stability and proof that the APA acquisition can scale before turning more bullish.

The day before on November 5, Array Technologies reported third-quarter results for the period ending September 30, 2025. Revenue reached $393.5 million, with APA Solar contributing $16.9 million following its recent acquisition. The company posted a gross margin of 26.9% and adjusted EBITDA of $72.2 million. Net income stood at $18.4 million, or $0.12 per share, while adjusted earnings came in at $0.30 per share. Total contracts and awarded orders, excluding APA, were valued at $1.9 billion.

CEO Kevin Hostetler highlighted strong year-over-year growth in revenue and volume, up 70% and 56% respectively. He noted that APA’s integration strengthens Array’s offerings and supports long-term growth. The company updated its full-year 2025 guidance, projecting revenue between $1.25 billion and $1.28 billion, including around $50 million from APA. Adjusted EBITDA is expected to range from $185 million to $195 million, with adjusted net income per share between $0.64 and $0.70.

Array Technologies Inc. (NASDAQ: ARRY) designs and manufactures solar trackers and racking systems for the utility-scale and distributed generation solar industries. The company’s products and software are engineered to maximize energy production from solar photovoltaic systems and are used to support residential, commercial, and large-scale solar projects.a

While we acknowledge the potential of ARRY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ARRY and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 11 Must-Buy US Stocks to Buy Now and 15 Best Stocks to Invest In According to Billionaire D.E. Shaw.

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