Auriga Reiterates Buy, $27 PT On ReneSola (SOL), Remains Top Solar Pick

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 as way undervalued at current levels.  SOL will report earnings on Feb 14th.

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I’d have to agree that shares of SOL are quite compelling here especially considering that they recently broke out of a large cup with handle base.

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