10 Best Solar Stocks to Buy in 2025

2. Nextracker Inc. (NASDAQ:NXT)

Upside Potential: 23%

Number of Hedge Fund Holders: 41

Nextracker Inc. (NASDAQ:NXT) is a provider of solar tracker systems that optimize energy production for utility-scale solar farms. Its intelligent tracking solutions allow solar panels to follow the sun’s movement, maximizing energy output and improving project economics.

Supporting the company’s investment thesis, RBC Capital analyst Christopher Dendrinos initiated coverage on Nextracker Inc (NASDAQ:NXT) with an Outperform rating and a $55 price target, in a report on March 17. The analyst highlighted the company’s consistent operational improvements and structural enhancements that support cost efficiency. The company’s innovative product design reduces overall system costs, and its industry-leading software, TrueCapture, offers significant added value for customers. The analyst sees potential upside to FY 2026/2027 consensus estimates and argued that the company’s robust balance sheet and free cash flow opportunities justify a valuation premium over its peers.