Jefferies Lowers JA Solar PT To $7

Jefferies lowered its JA Solar JASO price target from $10 to $7 in a research report published today. Jefferies has previously given JA Solar a Buy rating. In the report, Jefferies states, "For years Investors have pondered when JASO and its former parent Jinglong would merge to create a vertically integrated and low cost competitor to YGE and TSL. Today JASO bought the newer half of Jinglong (mostly 6 inch mono capacity) in an all-stock transaction. This transaction appears well priced versus other wafer acquisitions but a related party transaction may draw criticism given low valuations in the sector." Shares of JA Solar were trading at $5.59 at the time of posting, up 0.72% from Thursday's market close.