UPDATE: Roth Capital Downgrades Maxeon Solar Technologies Ltd. (MAXN) to Neutral

April 12, 2021 4:45 AM EDT
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Price: $19.42 +1.94%

Rating Summary:
    2 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 7 | New: 31
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(Updated - April 12, 2021 5:08 AM EDT)

Roth Capital analyst Philip Shen downgraded Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) from Buy to Neutral with a price target of $23.00 (from $43.00).

The analyst comments "MAXN delivered a Q4 miss and weak Q1 guide. Moreover, the outlook for challenged P-series volumes and light overall corporate margins is likely to persist longer than originally expected with weakness likely bleeding well into H2'21. We expect the stock to languish ahead. As a result, we downgrade to Neutral on the challenged outlook for volume and margins despite the positive political tailwinds & plans for a pivot back to U.S. manufacturing."

For an analyst ratings summary and ratings history on Maxeon Solar Technologies Ltd. click here. For more ratings news on Maxeon Solar Technologies Ltd. click here.

Shares of Maxeon Solar Technologies Ltd. closed at $23.44 yesterday.

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