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Fly News Breaks for June 3, 2016
JASO
Jun 3, 2016 | 08:18 EDT
As previously reported, Roth Capital analyst Philip Shen downgraded JA Solar to Neutral from Buy. Heading to the second half of 2016, the analyst is cautious on entire group of upstream manufacturers given the threat of overcapacity in Q3 as demand in China steps down. He expects JA Solar to be "especially challenged" given its high exposure to China and says ASP declines in second half of year will likely accelerate beyond what is priced into expectations. Shen lowered his price target on the shares to $8 from $12.
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