Auriga Upgrades JinkoSolar (JKS) to Buy
Tweet Send to a FriendGet Alerts JKS Hot Sheet
Price: $9.69 +6.60%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade JKS Now!
Auriga upgrades JinkoSolar Holding Co., Ltd. (NYSE: JKS) from Hold to Buy and raises their price target form $32 to $37.
The firm stated, "Recall that we downgraded shares of JinkoSolar in early September as the stock had not only achieved our price, but we were also fearful of a dilutive equity transaction. Last night the company announced a follow-on offering of 2 million shares that is just less than 10% dilutive to current shareholders. Given the increased capital, management will be ramping capacity to 1 GW by the end of 2011, which increases shipments, revenue, and EPS substantially."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm stated, "Recall that we downgraded shares of JinkoSolar in early September as the stock had not only achieved our price, but we were also fearful of a dilutive equity transaction. Last night the company announced a follow-on offering of 2 million shares that is just less than 10% dilutive to current shareholders. Given the increased capital, management will be ramping capacity to 1 GW by the end of 2011, which increases shipments, revenue, and EPS substantially."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Cantor Fitzgerald Upgrades Cubist Pharmaceuticals (CBST) to Hold
- Deutsche Bank Upgrades priceline.com (PCLN) to Buy
- Macquarie Upgrades BlackRock (BLK) to Outperform
Create E-mail Alert Related Categories
UpgradesRelated Entities
Auriga
Login with Facebook
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!
