UPDATE: Roth Capital Downgrades JinkoSolar Holding Co., Ltd. (JKS) to Neutral
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Roth analyst Philip Shen downgraded JinkoSolar Holding Co., Ltd. (NYSE: JKS) from Buy to Neutral with a price target of $38.00 (from $59.00).
The analyst comments "JKS delivered a Q4 miss and weak Q1 guide. Although headline 2021 shipment guidance was inline, management redefined the terms to include wafer, cell, and module shipments as opposed to just module shipments, implying a weaker-than-expected outlook for module shipments. Look for the stock to be weak until the outlook for volume and margins improves, and it's unclear when that will happen. Until then, we are downgrading to Neutral and stepping to the sidelines."
Shares of JinkoSolar Holding Co., Ltd. closed at $38.65 yesterday.
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