Auriga Lifts Price Targets On Solarfun (SOLF) & JinkoSolar (JKS)

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 as well as convert 160MW of existing capacity to its high-efficiency selective emitter technology.”

SOLF is trading up 2% in pre-market trading and looks very bullish, having broke out of a double bottom base yesterday.

===> Click Here For A Solarfun Trend Analysis

Price target for JKS goes from $23 to $25. “Specifically, we believe that the planned capacity ramp is ahead of schedule and that by year-end, the company will have a balanced manufacturing profile at 500MW. In addition, we believe the company will be foregoing future wafer sales and will be using all internal wafer supplies for module production… We have high conviction in our call and suggest that the company has significant upside potential from current prices.”

JKS is up about 2% in premarket trading as well and continues to rocket higher after breaking out above 11.05 on July 7th.  Great call by Auriga back on June 28th when they first issued the buy rating and $23 price target.

====> Click Here For Your FREE JinkoSolar Technical Analysis

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