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Investing.com - Jefferies has upgraded SMA Solar Technology AG (ETR:S92) stock rating from Underperform to Hold, while maintaining a price target of EUR16.00.
The rating change follows Monday’s profit warning from the German solar equipment manufacturer and the subsequent correction in its share price.
Jefferies expects SMA Solar’s large-scale business to continue supporting the company’s profit and loss statement, with potential upside from operations in the United States market.
Despite the upgrade, the investment firm remains cautious about the outlook for the rooftop segment and notes heightened competition in the European market.
Jefferies also highlighted that restructuring measures could place short-term pressure on SMA Solar’s cash position.
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