Sky Solar Holdings (SKYS) Posts Weaker-Than-Expected Earnings; Roth Capital Cuts Price Target to $10

Roth Capital maintained a Buy rating on Sky Solar (NASDAQ: SKYS), and cut the price target to $10.00 (from $12.00), following the company's 3Q earnings report. SKYS posted lower-than-expected revenue of $12.1mn vs. consensus of $14.2mn. Core EPS was lower-thanexpected at -11c vs. consensus of 1c.

Analyst Philip Shen commented, "SKYS posted a light Q3 with a weaker-than-expected Q4 connection guide, though the company's 2016 outlook was broadly inline with our expectation. With capital from the company's recent partnership agreements, it appears SKYS has a plan to fund development of the company's Japanese, LATAM, and U.S. project pipelines through 2016. That said, we believe the stock could trade sideways until the company begins to consistently execute on its pipeline. Maintain Buy, PT to $10."

For an analyst ratings summary and ratings history on Sky Solar click here. For more ratings news on Sky Solar click here.

Shares of Sky Solar closed at $6.92 yesterday.

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