JinkoSolar (JKS) shares plummeted 5.13% in intraday trading, following a significant downgrade by Citi analyst Air Ma. The stock's sharp decline comes as investors react to the change in Citi's outlook for the solar energy company.
Citi has lowered its rating on JinkoSolar from Buy to Sell, a substantial shift in its assessment of the company's prospects. Adding to the bearish sentiment, the analyst also slashed the price target from Rmb 10.60 to Rmb 5, representing a considerable reduction in the expected value of JinkoSolar shares.
While specific details of the downgrade rationale were not fully disclosed in the available news, one report suggests that negative impacts from U.S. tariffs may have played a role in Citi's decision. This development could signal potential headwinds for JinkoSolar in the U.S. market, which is crucial for many solar energy companies. As the solar industry continues to navigate complex international trade dynamics, investors will likely keep a close eye on how JinkoSolar addresses these challenges in the coming months.
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