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JA Solar cut to Sell at Axiom as Johnson doubles down on bearish bet

Published 08/29/2017, 02:59 PM
© Reuters.  JA Solar cut to Sell at Axiom as Johnson doubles down on bearish bet
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  • JA Solar (JASO +1.7%) is higher despite Axiom's downgrade to Sell from Hold with a $5 price target, slashed from $7, with analyst Gordon Johnson following up last week's bearish note and reiterating that the recent surge in U.S. PV prices soon could swing back in the other direction.
  • Johnson thinks Chinese solar module vendors will find themselves in a lose-lose situation whatever the outcome of Pres. Trump's probe into solar imports, as they will be shot out of the U.S. market or be forced to deal with deflation in U.S. PV prices if Trump opts not to act.
  • Johnson now has Sell ratings on JASO, Yingli Green Energy (YGE -0.7%) and SolarEdge Technologies (SEDG +0.2%), but he recommends First Solar (FSLR +0.5%) and Canadian Solar (CSIQ +1.2%).
  • Now read: There Is A Reason Why JA Solar Stock Is Going Nowhere


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