Wells Fargo is bullish on residential solar with these stocks primed to rebound

Residential solar stocks are predicted to rebound in 2024 due to falling interest rates, according to an analyst. The analyst believes that residential solar demand is more influenced by interest rate movements compared to utility-scale solar. They have upgraded an inverter manufacturer and downgraded a utility-scale powerhouse in their recommendations. The analyst is bullish on a solar installer, raising its price target, while downgrading another solar company based on its booked capacity. The analyst’s predictions differ from Wall Street consensus, as they see limited catalysts for additional upside in the downgraded company given its booked capacity.