FRANKFURT (dpa-AFX) – Shares of SMA Solar soared on Monday to their highest point in over 15 months. By the afternoon, the inverter manufacturer's stock was up 10.8 percent at EUR25.54, extending its year-to-date gain to nearly 90 percent.
There were no fundamental company news driving the surge, with only a study from the analysis firm Jefferies, which raised its price target from EUR16 to EUR22 while maintaining a "Hold" rating. Supported by strong order intake and robust results in the large-scale solar power plant segment, the company likely delivered a solid performance, wrote Constantin Hesse in a Monday preview of the upcoming third-quarter figures. However, he cautioned that uncertainties regarding activities in the United States are increasing.
