Scotiabank initiated coverage on Array Technologies (ARRY) with a Sector Outperform rating and a price target of $26.00.

While noting that near-term uncertainties remain on project timing, related to module availability for developers, the firm said that in the long term, it looks for 15%-20% solar capacity growth, which offers Array a strong secular backdrop as well as the potential for increased market adoption of tracker solutions generally.

Shares gained more than 3% today after the company announced preliminary 2022 results and provided guidance for fiscal 2023.

RBC Capital initiated coverage of Moderna (MRNA) with an Outperform rating and a price target of $200, noting it believes that the COVID cliff and its near-term impact to the P&L is well appreciated given the $5 billion guided 2023 revenue floor, CDC numbers framing how volume is evolving and price, new variants and compliance offering potential upside.

Barclays initiated coverage on KKR (KKR) with an Overweight rating and a price target of $69.00.

Scotiabank initiated coverage on SunPower (SPWR) with a Sector Perform rating and a price target of $20.00.

Barclays initiated coverage on The Carlyle Group LP (CG) with an Overweight rating and a price target of $41.00.

By Davit Kirakosyan

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