UPDATE: Deutsche Bank Lowers PT on JinkoSolar Holdings to $6

A report from Deutsche Bank reiterates its Hold rating, lowers its price target from $7 to $6, and lowers its EPS estimate from $3.05 to $1.12 on JinkoSolar Holdings JKS. The report states, “Shares look attractive relative to peers on capacity valuation, but we see limited near term catalysts to drive shares higher until pricing, volumes and margins hit a bottom… Although Q3 results/outlook were not surprising given the recent preannouncement, comments around utilization rate and operating metrics were somewhat better than muted investor expectations, in our view.” JKS closed yesterday at $5.70.