Collins Stewart Downgrades JinkoSolar Holding Co., Ltd. (JKS) to Neutral; Industry and Company Specific Risks Grow

Collins Stewart downgraded JinkoSolar Holding Co., Ltd. (NYSE: JKS) from Buy to Neutral with a price target of $10.00.

Collins analyst says, "China news agencies indicates that JKS has been asked to suspend cell production at its Haining facility in Zhejiang, its primary cell facility. The company is accused by local residence of polluting a local river to the extent that it has killed fish. China's official Xinhua news agency reported more than 500 protesters have camped outside the facility since September 15. Xinhua quoted a local environmental protection bureau official that the facility's waste disposal has failed pollution tests since April. The local government is now investigating the facility. At this point, we do not know when JKS will be able to reopen its cell factory or what conditions the government will put on the company to reopen."

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 $9.04 yesterday.

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