All You Need to Know About JinkoSolar (JKS) Rating Upgrade to Buy

Core Viewpoint - JinkoSolar (JKS) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [4][6]. - Rising earnings estimates for JinkoSolar suggest an improvement in the company's underlying business, likely leading to an increase in stock price [5]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - JinkoSolar's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10]. Earnings Estimate Revisions for JinkoSolar - For the fiscal year ending December 2024, JinkoSolar is expected to earn -$0.24 per share, reflecting a change of -102.4% from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for JinkoSolar has increased by 296.8%, indicating a significant upward revision in earnings expectations [8].