FTCI - FTC Solar plummets as downgraded on anti-dumping probe at Piper Sandler

Piper Sandler analyst Kashy Harrison downgraded FTC Solar (FTCI -17.0%) to Neutral from Overweight with a price target of $4, down from $9. The decision by the U.S. Department of Commerce to investigate anti-dumping and countervailing duty circumvention in certain Southeast Asian countries will cause project delays. While delay risk is already being reflected in the stock, a Neutral rating is warranted as FTC Solar is basically a binary option on antidumping and countervailing at this point, says the analyst. Since the start of 2022, FTC Solar shares fell 49.8% and over a period of one year shares were down around 73.1%. Wall Street analysts stands with a Buy rating on the stock.

For further details see:

FTC Solar plummets as downgraded on anti-dumping probe at Piper Sandler