JKS - JinkoSolar soars on Roth upgrade as improved U.S. policy points to strong outlook

JinkoSolar Holding ( NYSE: JKS ) +11.5% in Wednesday's trading after Roth Capital upgraded the solar panel maker to Buy from Neutral with a $70 price target, hiked from $50, citing an improving U.S. policy situation and the potential for margin expansion on poly price declines.

Given recent releases on the Uyghur Forced Labor Prevention Act and the expected progress ahead, Roth analyst Philip Shen raised JinkoSolar ( JKS ) to Buy after nearly two years at Neutral in large part given the overwhelming policy risks that have challenged the company.

Shen said these risks have started to wane, and he expects the company's outlook to improve ahead.

Solar stocks are broadly rallying Wednesday as Korea's Hanwha Qcells pledged to invest ~$2.5B to build a complete solar manufacturing value chain in the U.S .

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