Emeren price target lowered to $5 from $7 at Roth MKM

Roth MKM lowered the firm’s price target on Emeren to $5 from $7 but keeps a Buy rating on the shares. The company’s Q3 revenue was a miss, though its margins were higher than expected, the analyst tells investors in a research note. Emeren is also growing its IPP assets and making progress on existing and advanced-stage solar and storage pipelines, the firm states, adding that while the Q3-Q4 expectations are “a bit challenged”, during the time of inflection and rapid reductions in input costs, there may be attractive, profitable opportunities through 2024.