UBS maintains its Buy rating and increases the price target from $150 to $160. The firm increases its 2011 and 2012 EPS estimates from $8.80 and $9.50 to $9.15 and $10.00.
Needham & Company upgraded from Underperform to Hold but indicated the valuation remains rich and investors should focus on solar stocks with lower multiples such as JA Solar (JASO) or LDK Solar (LDK).
JP Morgan raised the price target from $105 to $115.
Jefferies … Read the rest
Analysts are weighing in on First Solar (FSLR) earnings results and it’s a bit of a mixed bag.
Deutsche Bank downgraded the stock to Hold from Buy and lowered the price target from $155 to $125. While the company notes that the quarter was strong and guidance was raised they have more concerns about 2011 with early data pointing to declining margins .
====> Click Here For Your FREE Daily First Solar Technical Analysis
Hapoalim … Read the rest
Yesterday, Deutsche Bank posted some positive comments on the China solar stocks, upgrading Suntech (STP) to Buy and reiterating buys on TSL, SOL and YGE. This morning they are weighing in on two of the big US solar plays MEMC Electronic Materials (WFR) and Sunpower (SPWRA) and aren’t as bullish. They have slashed the price target on WFR from $18 to $15 and the price target on SPWRA from $25 to $17 due to … Read the rest
According to Barron’s, there are a few analyst calls in the solar space this morning and it’s a bit mixed, but leaning towards the bullish side.
Raymond James
Energy Conversion Devices (ENER) gets a downgrade from Market Perform to Underperform. The firm sees the market for amorphous silicon as bleak and not a viable technology in the long run. Shares are down 6% today but hanging in there above support of the 50 day moving … Read the rest
A few big firms are out with coverage on Tesla (TSLA) this morning. Hat tip to Street Insider for the analyst comment from Deutsche.
J.P. Morgan (JPM) initiated coverage on Tesla Motors (TSLA) with an Overweight rating and price target of $25.
Goldman Sachs (GS) initiated coverage with a Neutral rating and $21 price target.
Deutsche Bank initiated coverage with a Hold rating and $17 price target.
“We believe that Tesla’s deep technical talent, head-start … Read the rest
It’s been a rough couple of weeks for Itron (ITRI). About two weeks ago, I wrote about Itron (ITRI) likely losing the big Sempra Energy (SRE) smart meter deal to Esco Tech (ESE) which sent the stock plummeting. However, the selling didn’t last long and the shares recovered further after posting a strong earnings report. Today, the stock ran out of steam as it was hit with not only a downgrade out of Macquarie … Read the rest
Deutsche Bank has met with Sunpower (SPWRA) management and according to Street Insider, is still comfortable with its Buy rating as the stock continues to slide to new all time lows. The firm maintains the $25 price target as well.
===> Click Here For Your FREE Sunpower Analysis
“We believe there is great (and unrealized) value in the company’s downstream business. We believe that companies with these business models are far better positioned; there … Read the rest
Lots of analyst reaction to First Solar (FSLR) earnings last night. Here’s the run down with a hat tip to Street Insider for the analyst commentary.
Buy Ratings
Brigantine Advisors reiterates its Buy rating and raises the price target from $144 to $150.
“Investor sentiment in the solar sector has been weak for much of this year, and we think the strong report from First Solar will go a long way to allay most concerns. … Read the rest
Deutsche Bank is out with Buy ratings this morning after First Solar (FSLR) and Itron (ITRI) reported strong earnings results last night.
They have upgraded First Solar (FSLR) to Buy and raised the price target from $125 to $155. “The company has demonstrated great flexibility with its business, and has built a captive project pipeline that can insulate the company should individual markets wither, or module ASPs come under great pressure.”
===> Click Here For … Read the rest
Both Deutsche Bank and Canaccord Adams are reiterating their Buy rating on Itron (ITRI) ahead of earnings after the bell tomorrow. Both raised the price target from $80 to $85.
Deutsche believes Itron’s Q1 results will exceed expectations and that “improving macro trends were only partially offset by FX (3% Q/Q) and Cu headwinds.”
Canaccord said, “In short, Itron is beginning to benefit from much better OpenWay capacity utilization, as customers look to notably accelerate … Read the rest