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Canaccord Starts JA Solar (JASO) and Canadian Solar (CSIQ) At BUYS
According to the StreetInsider.com Canaccord Adams initiated both JA Solar (JASO) and Canadian Solar (CSIQ) with buy ratings this morning.
On JASO:
“We are initiating coverage on JA Solar with a BUY rating and $19 price target as we believe that it will continue to benefit from its leading position in the silicon solar cell market and from its low-cost strategy.”
On CSIQ:
“Given the likelihood for raised expectations, the near-term benefit of UMG access, and the longer-term potential of a differentiated business model coupled with a relatively low valuation, we see a favorable risk reward for investors.” The firm also noted, Canadian Solar has secured adequate materials for production of 95% of its 2008 guidance of 230-260MW and approximately 80% of its 2009 guidance of 550MW.
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Oct.14
[...] not forget though that it was Canaccord Adams that initiated coverage with a Buy rating on JA Solar on Aug 5th. At the time the stock was trading around $15/share and Canaccord had a price target of $19 [...]