Raymond James analyst Pavel Molchanov lowered the firm’s price target on Maxeon Solar to $8 from $10 and keeps an Outperform rating on the shares. The analyst says the interest rate spike in Q1 has reignited selling pressure in the renewable energy and clean technology group. While individual company fundamentals can override the macro backdrop, it will be very difficult for the group as a whole to reach Raymond James’ originally forecasted 2024 gain of 20%-30% without some improvement on the macro front, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MAXN:
- Maxeon Solar Welcomes New Chief Commercial Officer
- Maxeon Solar Technologies, Ltd. (MAXN) Q4 Earnings Cheat Sheet
- Canadian Solar says Maxeon Solar patent infringement claims ‘without merit’
- Maxeon Solar price target lowered to $3 from $6 at Roth MKM
- Maxeon Solar files patent infringement suit against Canadian Solar