UPDATE: Cantor Fitzgerald Downgrades Power-One to Hold, Lowers PT

Loading...
Loading...
In a company update published earlier today, Cantor Fitzgerald downgraded its rating for Power-One, Inc.
PWER
from Buy to Hold, and lowered its price target from $7.50 to $5.00. Cantor Fitzgerald went on to say “On May 17, the U.S. Department of Commerce imposed an immediate 31% duty on Chinese-manufactured c-Si cells, modules, and panels. With the European solar market in decline and most of world's solar panels manufactured in China, we believe this ruling will have a significant negative effect on what has been a growing U.S. market. The significant growth in U.S. solar installations has been fueled by dropping prices of solar panels. This makes everything from residential solar to utility-scale solar financially viable (in some cases with subsidies). We believe that many will now be in limbo as developers try to make the business case with increased costs.” Power-One, Inc. closed yesterday at $3.94.
Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsCantor Fitzgerald
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...