Goldman Sachs (GS) Initiates Solar Coverage: Buy FSLR, Neutral SPWRA, Sell WFR
The big gorilla Goldman Sachs (GS) has finally begun covering the solar sector and initiated coverage of the US solar sector with a Neutral rating and initiated coverage on a few of the largest solar companies too. Hat tip to Street Insider for the heads up on these ratings this morning.
It begins First Solar (FSLR) coverage with a Buy rating and $150 price target. They view the increased exposure to the US utility scale market as a significant positive. Get First Solar Technical Analysis
SunPower (SPWRA) is initiated with a Neutral rating and a $15 price target. Get Sunpower Technical Analysis
MEMC Electronic Materials (WFR) is initiated with a Sell rating and $9 price target. Goldman sees more risk than reward amid a sub-peer margin recovery, lower returns due to a more capital-intensive business mix and an elevated valuation. Get MEMC Electronic Materials Technical Analysis
Jul.01
[...] solar panels. Goldman Sachs Tracks Solar: Now really. Would the moneygrubbers at Goldman start covering solar-panel manufacturers like First Solar and SunPower if they weren’t poised to make a ton of [...]