JinkoSolar price target lowered to $20 from $25 at Roth MKM

Roth MKM analyst Philip Shen lowered the firm’s price target on JinkoSolar to $20 from $25 and keeps a Neutral rating on the shares. The company’s Q2 revenue missed expectations as average selling prices continue to be weighed down by oversupply throughout the supply chain, even though the management reiterated its 2024 module shipment guide, the analyst tells investors in a research note. Q3 is seen as the trough, but the shape of the recovery in pricing is unclear, the firm added.