Auriga is out maintaining its Buy rating on both Solarfun (SOLF) and JinkoSolar (JKS) and has raised the price targets for both.
Price target for SOLF goes from $9 to $13. “We have increased confidence that management will expand capacity meaningfully in 2011 and are modeling 979MW of shipments versus year-end capacity of 1,250MW… Our findings appear to be corroborated by the July 19 press release where the company announced plans to increase cell capacity… Read the rest
JinkoSolar just announced that it has signed a new supply agreement to provide Enfinity Asia Pacific Limited with 24MW of PV modules. Shipments have already started and will continue through the end of the year.
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In a press release, Xiande Li, Chairman of the Board of Directors at JinkoSolar, commented on the agreement:
“Our solar module supply agreement with Enfinity is a testament to the … Read the rest
Auriga initiated coverage on recent solar IPO JinkoSolar (JKS) with a Buy rating more than two weeks ago. Since that time, the stock has seen very bullish trading action, breaking out above 11 with good volume and running quickly to $13 before pulling back. This morning Mark Bachman reiterates his Buy rating on the company and the $23 price target.
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“We continue to profess that shares … Read the rest