Collins Stewart Makes JinkoSolar Holding (JKS) Top Pick in Solar Market
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Price: $15.92 +0.32%
Rating Summary:
11 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Collins Stewart is maintaining its Buy rating on shares of JinkoSolar Holding Co. (NYSE: JKS), but is lowering its price target by $2 to $32.50. The firm named Jinko its "Top Pick" within the Solar sector.
The firm reports that its is adjusting its estimates on JKS due to current market trends of lower module prices and lower polysilicon raw material prices. It expects to see further polysilicon price erosion in the quarters ahead, which will put spot market buyers at a competitive advantage to those with fixed priced contracts.
An analyst at Collins Stewart comments, "as a spot market buyer of polysilicon and having cleared through much of its high cost inventory by mid-Q2, we believe JKS will be agile enough to thrive in the quarters ahead."
The firm cut its FY11 and FY12 EPS estimates from $7.20 and $6.90 to $6.73 and $6.50. It also lowered its revenue estimates from $1.48 billion and $1.67 billion to $1.4 billion and $1.61 billion.
For more ratings news on JinkoSolar Holding Co., Ltd. click here and for the rating history of JinkoSolar Holding Co., Ltd. click here.
Shares of JinkoSolar Holding Co., Ltd. closed at $24.62 yesterday.
The firm reports that its is adjusting its estimates on JKS due to current market trends of lower module prices and lower polysilicon raw material prices. It expects to see further polysilicon price erosion in the quarters ahead, which will put spot market buyers at a competitive advantage to those with fixed priced contracts.
An analyst at Collins Stewart comments, "as a spot market buyer of polysilicon and having cleared through much of its high cost inventory by mid-Q2, we believe JKS will be agile enough to thrive in the quarters ahead."
The firm cut its FY11 and FY12 EPS estimates from $7.20 and $6.90 to $6.73 and $6.50. It also lowered its revenue estimates from $1.48 billion and $1.67 billion to $1.4 billion and $1.61 billion.
For more ratings news on JinkoSolar Holding Co., Ltd. click here and for the rating history of JinkoSolar Holding Co., Ltd. click here.
Shares of JinkoSolar Holding Co., Ltd. closed at $24.62 yesterday.
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