Shoals Technologies Group Inc Ordinary Shares - Class A

SHLS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$3.00	Stcn	Vtnvnsrj

Shoals Earnings: Shares Fall on 2024 Guidance Miss

Brett Castelli

Feb 29, 2024

We lower our fair value estimate for no-moat Shoals to $10 from $11 following fourth-quarter results. The driver of our lower valuation is a reduced revenue forecast following 2024 guidance below our expectations. We view shares as overvalued.

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