Auriga is out this morning upgrading shares of First Solar (FSLR) from Hold to Buy but lowered their price target just a bit from $166 to $160. Here are highlights of the call…
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– management reaffirmed 2011 guidance in earnings report last night (Auriga called the quarter a solid beat)
– FSLR modules are low in price and high in efficiency, remaining in high demand
– … Read the rest
Shares of First Solar (FSLR) were under pressure a bit yesterday and took out key support of the 200 day moving average for the first time since last November after famed short seller Jim Chanos highlighted his bearish stance on the company on CNBC. It was also announced that President of Operations Bruce Sohn has resigned. TheStreet.com posted a nice article with analyst commentary if you’d like more details. I’ll summarize here .. let’s start … Read the rest
Usually, I just posts highlights of the reports from Mark Bachman from Auriga, but this morning decided to just publish in full. Thoughts?
As the second act of the Italian solar drama begins, we look at the bear argument of "too much 2012 capacity leading to uncontrollable price and margin declines." At the risk of starting a larger food fight, we provide our view on how industry capacity develops and show that actual shipments end … Read the rest
Auriga sent out a note this morning regarding the solar sector as a whole and believes the incentives uncertainty is now priced in for the most part and that solar stocks will see some recovery from here. I tend to agree with that evaluation and still think this pull back on fears of an Italy installations cap and a few less than stellar earnings reports will lead to some buying opportunities.
Auriga also notes that … Read the rest
I thought I’d provide a short summary on some of the analyst reactions coming out after First Solar’s (FSLR) earnings report Thursday night. In light of the half way decent quarter, it’s no surprise that nearly all of the analysts maintained their current ratings on the stock with some obviously remaining more bearish than others.
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JP Morgan maintained its Underweight rating and $115 price target. The … Read the rest
I just posted about Trina Solar’s (TSL) strong earnings report and wanted to give a run down on some analyst reactions. The consensus is generally bullish with a hint of caution.
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Hapoalim Securities maintains Hold but raised the price target from $27 to $30. The firm sees the company as a leader in solar manufacturing.
Wells Fargo maintains Hold rating but raised the valuation range … Read the rest
Yesterday, Auriga reiterated their Buy rating and $27 price target on ReneSola (SOL) which represents about 150% upside to current levels. They highlight the fact that SOL is a customer of WFR which posted strong earnings results and signaled out a Chinese company with “very nice costs” which they believe to be ReneSola. They continue to believe SOL is their top play in their solar coverage space. The bottom line is that they view SOL … Read the rest
Yessterday, Auriga downgraded shares of First Solar (FLSR) to Hold from Buy since the stock has appreciated considerably in the past few months and about reached their price target which remains at $167.
===> Click Here For Your FREE Daily First Solar Analysis
The firm maintains a 15x multiple on shares of FSLR due to its superior business model and for comparison stake their highest ranked China solar stocks are given a 10x multiple.
Shares … Read the rest
A few days ago Auriga maintained their Buy rating on Power One (PWER) ahead of earnings. As you may know, PWER posted weak guidance and plunged today with heavy volume. Despite the weaker guidance, Auriga is maintaining their Buy rating but lowering their price target just a bit from $14 to $13. The firm did not see excess inventory in Europe for the first half of the year so have had to adjust their EPS … Read the rest
Auriga was out with a note yesterday, reiterating its Buy rating on Hanwha SolarOne (SOLF) and $16 price target which is nearly a double from current levels. The firm noted the recent 54MW supply deal with SunEdison which didn’t come as surprise, but the size of the deal did. Auriga also points out that their sales channel is improving and the relationship with Q-Cells remains intact and unchanged.