2023-12-15 18:06:00
Good times ahead for solar companies, says Jefferies analysis
By: [Author Name]
According to a recent article published by Jefferies, the forecast for solar companies is looking bright. The team of analysts led by Dushyant Aylani believes that solar companies will see an improvement in activity in the near future.
The article recommends a number of companies that are expected to benefit more than others in the coming period. These companies include First Solar, Enphase Energy, and Sunrun Inc. Jefferies has given these companies target prices and upside percentages, indicating a positive outlook for their stocks.
“In times of uncertainty we see a better chance/risk ratio in companies in the service sector and those with strong balance sheets and nice order backlogs,” states the article. “The catalysts in the sector with the entry into 2024 and especially the tax benefits provide a positive horizon for companies in the sector.”
This positive outlook for solar companies comes after the enactment of a new regulation at the beginning of the year, designed to give tax benefits to companies in the solar energy sector. This move was aimed to encourage growth and development in the field. However, high-interest rates had initially led to a decrease in demand for solar panels, negatively affecting the companies in the sector.
While the article did not mention the share of Solaredge, the company has already seen a 33% increase in stock value in the last two days. Despite this surge, Solaredge missed analysts’ expectations in the third quarter and provided a disappointing forecast for the fourth quarter.
Overall, the outlook for solar companies appears positive, with Jefferies’ analysis providing hope for investors and industry stakeholders alike.
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