iSun price target lowered to $1 from $2 at Roth MKM

Roth MKM analyst Justin Clare lowered the firm’s price target on iSun to $1 from $2 and keeps a Buy rating on the shares. The company’s Q2 results were “mixed”, as its combined commercial and industrial divisions appear to be driving improved labor utilization and GM margin expansion while its management continues to expect positive full-year adjusted EBITDA, the analyst tells investors in a research note. Despite improving financials, however, iSun’s convertible debt could continue to put downward pressure on shares, the firm added.