Auriga posted a few more solar calls recently. This morning they initiated coverage of ReneSola (SOL) with a Buy rating and a $20 price target which is more than double the current level ($8.40). The believe sentiment is overly negative on this China solar leader. The firm notes that SOL benefits whether poly prices stay high (by focusing on wafering operations) or if module prices move lower (by sourcing more modules with its low cost … Read the rest
Tag Archives: sol
Credit Suisse Has Solar Supply Concerns, Downgrades SOLR, TSL, SOL, FSLR, JASO, STP
According to Barron’s, Credit Suisse is out this morning downgrading several solar stocks due to concerns about oversupply and softening demand next year. Analyst Satya Kumar sees new capacity of 2GW/month this quarter with an overall increase of 50% next year while demand remains flat. As a result, pricing could decline quicker than expected.
He’s downgrading six solar stocks, all of which are under pressure today.
Outperform ==> Neutral: First Solar (FSLR), Trina Solar … Read the rest
Auriga Provides Updates On JKS, SOL, LDK, YGE, STP
Auriga is out with a research note on select stocks today and remains generally bullish on the sector. They indicate that industry fundamentals remain strong both in terms of pricing and volume. Q1 volumes are strong and sold out in some cases as pricing remains firm while the 2nd half of 2011 warrants cautious optimism rather than pessimism. Here are notes on some individual names.
Jinko Solar (JKS): Sees upside to current estimates as shipments … Read the rest
Piper Jaffray Bullish On Solar, Initiates More Coverage; Sunpower (SPWRA) Downgraded By Soleil
Piper Jaffray initiated coverage on several solar stocks last night and is generally bullish with 9 Overweights and a few Neutral ratings. Most of the price targets are way above the current prices. Here’s the run down…
Overweight:
First Solar (FSLR) with 200 price target.
Renesola (SOL) with 20 price target.
Yingli Green Energy (YGE) 14 PT.
LDK Solar (LDK) 12 PT
SatCon Technology (SATC) 5 PT
Trina Solar (TSL) 35 PT
SunPower (SPWRA) 20 … Read the rest
Barclays Upgrades ReneSola (SOL) & Trina Solar (TSL), Raises Price Targets
Barclays upgraded ReneSola (SOL) from Equalweight to Overweight and increased the price target from $10 – $12.
“Although SOL has been our near-term top pick since Mar ’10, uncertainty with respect to 2011 demand and weak execution track record were some of the factors restraining us from having a more constructive longer term outlook on the shares. We now expect wafer market fundamentals to remain relatively robust in 2011.”
ReneSola (SOL) Beats With Record Quarter, Guides Above
ReneSola (SOL) posted a record quarter and beat analyst estimates in the process, posting a Q2 EPS of $0.42, 2 cents better than the analyst estimate of $0.40. Revenue for the quarter was 253.9 million, vs the estimate of $246.17 million. That’s a tripling of revenue over the year ago quarter, so mighty impressive results.
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CEO Xianshou Li commented: “We achieved record results in terms of … Read the rest
ReneSola (SOL) Issues Strong Preliminary Results, Raises Guidance
Renesola (SOL) is providing preliminary Q2 guidance this morning, beating previous estimates and is raising guidance for the 2nd half. The company reports official results on August 9th.
===> Click Here For Your FREE Renesola Analysis
* They expect total shipments for Q2 to be in the range of 250 – 260MW, exceeding previous guidance of 230 – 250MW
* Net revenues are expected to be in the range of $245 – $255 million, … Read the rest
ReneSola (SOL) Record Revs & Shipments, Raises Guidance, Shares Surge
ReneSola (SOL) reported strong results this morning, beating Wall St estimates and guiding higher. The company reported an EPS of .14/share vs the analyst estimate of .09/share on revenues of $206 million (vs the estimate of $189 million). Most of the China solar companies have been reporting record shipments and Renesola is doing the same reporting a record 242MW.
The company is also guiding higher, helping to boost shares nearly 12% today. They see revenues … Read the rest
Wells Fargo Initiates Coverage Of Solar Stocks: TSL, STP, SOL
Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
Barclays Bullish On Solar, Raises Price Targets On SOLF, FSLR, SOL, CSIQ, TSL, YGE
The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … Read the rest