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

Core Insights - Nextpower Inc. (NASDAQ:NXT) is recognized as one of the top-performing new tech stocks, with a price target increase from $88 to $105 by TD Cowen, maintaining a Hold rating after the release of its FQ3 2026 earnings report [1] Financial Performance - In FQ3 2026, Nextpower reported a 34% year-over-year revenue increase to $909 million, attributed to a record backlog and strong demand in both US and international markets [2] - The company raised its FY2026 revenue guidance to a range of $3.43 billion to $3.50 billion following the positive earnings report [2] Strategic Developments - Nextpower completed the formation of the Nextpower Arabia joint venture with Abu Nayyan Holding, securing a 2.25 GW supply commitment for the Bisha Solar Project in Saudi Arabia [3] - Despite facing a $44 million headwind from tariffs during the quarter, management emphasized the successful rollout of new platform components and bundled services like TrueCapture, which are helping to maintain gross margins in the low 30s [3] Company Overview - Nextpower Inc. specializes in solar tracker technologies and solutions for utility-scale and distributed generation solar applications, both in the US and internationally [4]