News Formal

Analysts bail on solar stocks after SolarEdge warning of weak earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Several analysts slashed their price targets and ratings on SolarEdge stock after the company delivered crushing news about waning demand.

Solaredge 's warning on Thursday of weakening European demand was another red flag following what has already been a tumultuous year for the solar industry. "During the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors," said SolarEdge CEO Zvi Lando in a statement .

Meta is the ‘cheapest high-quality tech stock’ despite monster rally, says Evercore's Mark Mahaney. Why he thinks it can move even higher

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solar stocks tumble to 3-year low as Solaredge drops 25% on demand warningSolar stocks, which have already had a difficult year, fell to their lowest levels in three years on Friday.
Source: CNBC - 🏆 12. / 72 Read more »