Goldman Sachs Initiates Coverage Of ReneSola (SOL) With Buy, Capstone Initiates Coverage Of Tesla Motors (TSLA) With Sell
Two two green stocks are moving this morning on notable analyst calls.
Goldman Sachs initiated coverage on ReneSola (SOL) with a Buy and $11 price target which is about 30% higher from current levels. The firm likes the solid balance sheet and the valuation after a big correction. I’ve said that SOL and JASO have offered compelling entry points off their 200 day moving averages and still feel that way. Shares of SOL are up 5% on the Buy rating this morning. Disclosure: I’m long SOL.
Capstone has initiated coverage of Tesla Motors (TSLA) with a Sell and price target of $22 which is about 30% lower than current levels. The firm believes the EV market won’t grow quickly to start due to lack of infrastructure and high prices and that most of the orders will go to GM (Chevy Volt), Nissan (LEAF) and Toyota (TM) because of better brand recognition. I couldn’t agree more. Disclosure: I’m short Tesla. Shares of TSLA have recovered off the morning lows and down 1% on the sell rating. They had quite in November and are currently in correction mode. In my opinion, they need to test the 50 day moving average around the 27.50 which is an area where I’d likely cover my short position.