Auriga Reiterates Buy On Hanwha SolarOne (SOLF)

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06:27:53 pm on February 1, 2011

Auriga was out with a note yesterday, reiterating its Buy rating on Hanwha SolarOne (SOLF) and $16 price target which is nearly a double from current levels.  The firm noted the recent 54MW supply deal with SunEdison which didn’t come as surprise, but the size of the deal did.  Auriga also points out that their sales channel is improving and the relationship with Q-Cells remains intact and unchanged.

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Shares of SOLF didn’t move on the Buy reiteration, but look increasing bullish and in my opinion have likely bottomed out around the $8 level.  The company reports earnings on March 17.

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