JinkoSolar price target lowered to $13.87 from $14.88 at GLJ Research

GLJ Research analyst Gordon Johnson lowered the firm’s price target on JinkoSolar to $13.87 from $14.88 and keeps a Sell rating on the shares. The supply/demand backdrop for solar modules "is currently defined by excess," the analyst tells investors in a research note. The firm says the consensus is currently modeling JinkoSolar’s gross margins to expand from 14.1% in Q4 of 2022 to 17.6% in Q4 of 2023 despite its prices falling faster than its costs at present.