Roth Trims PT on JinkoSolar (JKS) to $35; Sector Sentiment Pressures Amid Solid Q3 Results, Guidance
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Rating Summary:
10 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Roth Capital is trimming its price target on Buy-rated JinkoSolar Holding Co. (NYSE: JKS) from $40 to $35 following JinkoSolar's Q3 report and outlook on Thursday morning.
Analyst Philip Shen offered the following results on JinkoSolar's results: The fundamentals for JKS's module business are quite healthy through 2016. The company has more demand than its current capacity in 2016. ASPs are expected to be quite stable, and the company is expanding its capacity. Greater volumes from its Malaysian facility shipped to the U.S. will likely support margins ahead. Although the quality of Chinese project CFs remains low, we look for the government to resolve the issues of payments and prompt additions to the subsidy catalog at some point. When resolved, we expect this to be a positive upside catalyst for the stock (though it is tough to forecast the timing).
For an analyst ratings summary and ratings history on JinkoSolar Holding Co., Ltd. click here. For more ratings news on JinkoSolar Holding Co., Ltd. click here.
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