June 4, 2018 / 4:17 PM / 6 months ago

BUZZ-Cloudy day for solar stocks on China energy policy changes

** Shares of solar cos tumble on Mon after China cuts subsidies and places cap on energy capacity for distributed solar projects

** First Solar Inc down 7.0 pct, Enphase Energy Inc down 5.0 pct, SunPower Corp down 3.5 pct, Canadian Solar Inc down 12.6 pct

** U.S. shares of Chinese solar cos also slammed: Daqo New Energy Corp down 21.2 pct, JinkoSolar Holding Co Ltd down 11.1 pct, ReneSola Ltd down 9.0 pct, Hanwha Q Cells Co Ltd down 5.1 pct

** On Fri China announced 10-gigawatt cap on distributed solar power projects and a cut in feed-in-tariff subsidies for distributed solar projects in operation

** Policy move dampens demand for solar, especially in upstream segment, according to Roth Capital Markets analysts

** However, downward move results in “great entry points” for several solar stocks, including FSLR, ENPH, and DQ, Roth analysts say

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