UPDATE: UBS Upgrades JinkoSolar Holding Co., Ltd. (JKS) to Neutral
UBS analyst Jon Windham upgraded JinkoSolar Holding Co., Ltd. (NYSE: JKS) from Sell to Neutral with a price target of $41.00 (from $53.00).
The analyst comments "Following 4Q20 results we upgrade JKS shares from Sell to Neutral. JKS shares have corrected 44% YTD compared to a 15% YTD decline in the TAN solar index, and we now see limited near-term catalysts following the release of the U.S. Federal infrastructure proposal. An improving supply/demand dynamic potentially alleviating gross margin pressure would make us incrementally more positive, while narrowing U.S. policy support relative to the current administration's proposal would drive a more negative view."
Shares of JinkoSolar Holding Co., Ltd. closed at $36.56 yesterday.
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