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Fly News Breaks for June 4, 2018
Jun 4, 2018 | 10:06 EDT
Roth Capital analyst Philip Shen downgraded JA Solar Holdings to Sell from Neutral and cut his price target for the shares to $5.80 from $6.70. China's "much worse-than-expected" new solar policy released last Friday is likely bring a "massive net oversupply," Chen tells investors in a research note. He believes the outlook for module average selling prices has "suddenly deteriorated" for not only 2018, but also 2019. The analyst sees risk to JA Solar shares if its merger agreement is not successfully completed.
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