Canaccord Starts JA Solar (JASO) and Canadian Solar (CSIQ) At BUYS

Posted by Tate Dwinnell | # |
10:17:37 am on August 5, 2008

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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