Benzinga s Top Ratings Upgrades, Downgrades For June 30, 2021 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Solar stocks have taken a beating in the past three months, but one analyst says now is the time to buy the dip in Shoals Technologies Group Inc (NASDAQ: SHLS) and
Solaredge Technologies Inc (NASDAQ: SEDG).
The Analyst: Goldman Sachs analyst Brian Lee upgraded Shoals from Neutral to Buy and cut his price target from $36 to $33. Lee also upgraded SolarEdge from Neutral to Buy and cut his target from $312 to $290.
The Thesis: Lee said the type of severe sell-off solar stocks have experienced in the past three months has coincided with a deterioration of market fundamentals. However, he said solar fundamentals remain solid in 2021, suggesting the sell-off is a buying opportunity.
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