JKS - JinkoSolar: Deep Value In Solar Awaiting Consolidation
2024-02-21 03:25:10 ET
Summary
- Despite strong technological advantages and resilient and robust business growth throughout 2023, JinkSolar faces many challenges, including bearish sentiment towards the Chinese economy and renewable energy, as well as weak cash.
- Rated “Hold” with a target price of $32 per share, waiting for catalysts such as business consolidation, improvement in cash flow management, and positive macroeconomic factors.
- Key catalysts to watch for include JinkoSolar's Q4 2023 and annual reports, potential interest rate cuts by the Federal Reserve Bank, and Chinese economic data updates.
Introduction
Despite impressive revenue growth and cutting-edge technology from JinkoSolar Holding Co., Ltd. ( JKS ), its value is discounted due to economic headwinds in China, poor market sentiment in the renewable energy sector as well as negative cash flows. For the reasons above, I rate JinkoSolar as "Hold" with a target price of $32....
JinkoSolar: Deep Value In Solar Awaiting Consolidation