Shoals Technologies Group Inc Ordinary Shares - Class A
SHLS: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$6.00 | Vjrtm | Bygszrzw |
Shoals' 2023 Guidance Is Down the Fairway of Our Expectations
Shoals reported fourth-quarter results and unveiled its 2023 outlook, which was in line with our expectations. We maintain our $20 fair value estimate given limited changes to our prior forecast and view shares as overvalued. We remain impressed by Shoals' near-term margin profile but have concerns on the durability of these margins given our no-moat rating.