Goldman Sachs Upgrades JinkoSolar (JKS) to Buy

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July 8, 2011 9:07 AM EDT
Get Alerts JKS Hot Sheet
Price: $15.92 +0.32%

Rating Summary:
    11 Buy, 9 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs upgraded JinkoSolar Holding Co., Ltd. (NYSE: JKS) from Sell to Buy Friday morning. The firms 12-month price target moves from $25.50 to $33.

Goldman pointed out Jinko generally reduces its selling prices several months in front of the Tier-1 Chinese module makers. "As a result, JKS increased its sales volume by 49% in 1Q2011 from 4Q2010, the highest growth among its peers, and over the same period, the company increased its vertically integrated capacity to 900MW in 1Q2011 from 600 MW."

Shares of JinkoSolar are up 2.5 percent to $26.68 in pre-market action Friday.

For more ratings news on JinkoSolar Holding Co., Ltd. click here and for the rating history of JinkoSolar Holding Co., Ltd. click here.

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