Roth Capital Affirms JinkoSolar (JKS) at 'Neutral'; Says Downstream Business 'Finally' Being Monetized
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Analyst Philip Shen commented today,
After a long three years of exploring strategic alternatives for Jinko Power, JKS management finally developed a way to monetize its downstream business. We see the downstream sale as an incremental positive as the transaction could significantly improve the company's balance sheet and enable the company to reduce exposure to continued delays of FIT payments in China. Our analysis suggests the $250mn in cash to be received from the sale combined with the removal of an estimated ~$1bn of associated debt from JKS's balance sheet could reduce the company's net debt to total capital ratio to 44% from 71%. While we expect oversupply challenges in the module business to continue to weigh on JKS into 2017, we see the company's downstream spin-off putting the company in a position of greater financial strength.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Roth Capital Downgrades Ideal Power (IPWR) to Neutral
- Deckers Outdoor (DECK) Bear Poser at Susquehanna Modestly Lifts Numbers
- Tutor Perini Corporation (TPC) PT Raised to $35.00 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!