UPDATE: Roth Capital Downgrades JinkoSolar Holding Co., Ltd. (JKS) to Neutral
- S&P 500, Dow end at record highs as weak jobs data eases rate worries
- U.S. Added Only 266,000 Jobs in April, Well Below Estimates
- Roku (ROKU) Surges After Crushing Profit Estimates to Prompt an Upgrade to 'Buy' at Loop Capital
- Dollar broadly weaker after U.S. jobs data disappoint
- Square (SQ) Tops Q1 EPS by 25c
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.
You May Also Be Interested In
- Western Forest Products (WEF:CN) (WFSTF) PT Raised to Cdn$3 at TD Securities
- Stantec Inc. (STN:CN) (STN) PT Raised to Cdn$64 at TD Securities
- Bombardier Inc. (BBD/B:CN) (BDRBF) PT Raised to Cdn$1.20 at TD Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
Related EntitiesRoth Capital
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!