TD Cowen lowers FTC Solar stock price target to $8 on guidance

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil extends weekly gains as Iran conflict rages on, with crude surging around 18% Trump replaces Homeland Security chief Kristi Noem Wall Street ends lower on escalating Iran conflict, report of AI export curbs Trump says he must be involved in selecting Iran’s next leader (South Africa Philippines Nigeria) TD Cowen lowers FTC Solar stock price target to $8 on guidance By Analyst Ratings Published 03/05/2026, 06:42 PM TD Cowen lowers FTC Solar stock price target to $8 on guidance 0 FTCI -27.11% Investing.com - TD Cowen lowered its price target on FTC Solar Inc. (NASDAQ:FTCI) to $8.00 from $12.50 while maintaining a Buy rating on the shares. The stock closed at $5.41, down from $7.42 the previous session, and has declined 50% year-to-date despite posting an 84% gain over the past year. The firm cited concerns over a technical covenant default and lighter than expected first-quarter 2026 guidance that weighed on the stock. The company reported record margins and approached EBITDA breakeven during the period. According to InvestingPro data, FTCI holds more cash than debt on its balance sheet with a current ratio of 1.66, though the company is quickly burning through cash with negative EBITDA of $42 million over the last twelve months. TD Cowen views the covenant issue as procedural rather than structural. The firm noted that master service agreements are ramping and backlog is building at the solar tracker manufacturer. The new price target is derived from approximately 5 times enterprise value to EBITDA based on 2027 estimates. The previous target had been set at $12.50. FTC Solar develops and sells solar tracker systems and software solutions for utility-scale solar projects. The company is working through liquidity concerns tied to the covenant default. InvestingPro analysis suggests the stock appears undervalued at current levels based on Fair Value calculations. For deeper insights, including 13 additional ...