These Analysts Slash Their Forecasts On Maxeon Solar Technologies Following Q3 Results
Portfolio Pulse from Lisa Levin
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) reported a Q3 loss of $2.21 per share, with sales of $227.63 million surpassing estimates. Following the earnings report, the stock dropped 10.1%. Analysts from Raymond James, Northland Capital Markets, Goldman Sachs, and Roth MKM revised their price targets downward, with some maintaining their ratings and others downgrading the stock.
November 16, 2023 | 6:07 pm
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NEGATIVE IMPACT
Maxeon Solar reported a Q3 loss and a stock price decline. Analysts have cut price targets and issued downgrades, indicating a bearish outlook.
The reported Q3 loss and subsequent stock price decline reflect negatively on Maxeon Solar's short-term financial performance. Analyst downgrades and reduced price targets suggest a lack of confidence in the stock's immediate prospects, likely leading to bearish investor sentiment and potential further declines in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100