JP Morgan Upgrades JinkoSolar Holding Co. Ltd. to Overweight

Brokerage firm JP Morgan Upgrades its rating on JinkoSolar Holding Co. Ltd.(NYSE:JKS). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Jun 9, 2016.

In a different note, On Mar 21, 2016, Credit Suisse said it Maintains its rating on JinkoSolar Holding Co. Ltd.. In the research note, the firm Lowers the price-target to $42.00 per share. The shares have been rated ‘Outperform’ by the firm.

JinkoSolar Holding Co. Ltd. (JKS) shares turned negative on Wednesdays trading session with the shares closing down -0.23 points or -1.13% at a volume of 5,07,655. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.81. The peak price level was also seen at $20.81 while the days lowest was $20.03. Finally the shares closed at $20.05. The 52-week high of the shares is $32.278 while the 52-week low is $14.32. According to the latest information available, the market cap of the company is $629 M.

JinkoSolar Holding Co. Ltd.(JKS) last announced its earnings results on May 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $847.81M. Analysts had an estimated revenue of $1.00. Earnings per share were $1.72. Analysts had estimated an EPS of $1.00.

JinkoSolar Holding Co. Ltd. is a holding company. The Company is a provider of solutions in the photovoltaic (PV) industry-based in Jiangxi and Zhejiang Provinces in China. The Company recovers silicon materials manufactures solar modules and generates solar power. The Company’s products include recovered silicon materials (metric tons) silicon ingots silicon wafers solar cells and solar modules and its services consist of solar system engineering procurement and construction (EPC) processing services and electricity generation. The Company sells most its solar modules under the JinkoSolar brand with a small portion of solar modules on an original equipment manufacturer (OEM) basis. The Company also sells silicon wafers and solar cells not used in its solar module production. The Company also develops owns and operates PV projects in China. As of December 31 2014 the Company’s share of completed solar power projects amounted to 503 megawatt (MW).

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