In March, we lowered the majority of our fair value estimates across the solar sector, given our belief that solar supply and demand had become imbalanced and the stage was set for an industry downturn.
Results and deteriorating industry conditions (falling prices, inventory buildups, extension of payment terms) have confirmed that this is in fact occurring, and our solar coverage list has experienced material share price declines (see below).
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Stephen Simko does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.