Northland analyst Donovan Schafer raised the firm’s price target on ReneSola to $9.50 from $8 and keeps an Outperform rating on the shares. ReneSola "posted a solid Q3 beat" and lowered 2022 guidance, though the latter was driven by a positive development, namely attractive electricity prices in Poland and Hungary that make it more economic for the company to keep its roughly 100MW of NTP projects that were otherwise ready to sell in Q4. The net result was "foregoing a Q4 guidance beat in exchange for even higher IRRs over a longer multi-year period," according to Schafer, who calls this "a positive tradeoff."
Published first on TheFly
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