Solar Stocks Surge After LDK Solar (LDK) Raises Guidance

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10:02:47 am on January 10, 2011

The solar stocks are getting a nice pop today after LDK Solar (LDK) raised both its revenue and shipments outlooks for Q4 and next year.  The company says growth is being driven by lower prices, government incentives and renewable energy requirements across the world, particularly in Asia, the US and Europe.

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The company now expects Q4 revenues of $870 – $910 million vs the previous estimate of $710 – $750 million.  For 2011 the company now sees revenues of $3.5 – $3.7 billion vs the previous estimate of $2.9 – $3.3 billion.  Q4 wafer shipments are now predicted at 615 – 620MW vs the previous estimate of 580 – 600MW while the full year estimate now comes in at 2.7 – 2.9GW vs the  previous estimate of 2.5 – 2.8GW.

Shares of LDK are surging more than 15% today and gapping up above key resistance of the 50 day moving average.  Many of the China solar stocks are making key moves above resistance today.  I’ve been increasingly bullish on the China solar stocks in recent weeks and today’s move gets me more bullish.  I’ll be looking to add to positions on any pull back.

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