Shoals Technologies Group Inc Ordinary Shares - Class A

SHLS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$9.00	Cgfy	Tpmfhhhz

Shoals Is On Track to Deliver Solid 2022 Despite Industry Headwinds; We View Shares as Overvalued

Brett Castelli

Nov 15, 2022

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.

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