Auriga is out this morning maintaining its Buy rating and raising the price target to $38 on Trina Solar (TSL) ahead of its earnings report next Tuesday. They believe the company has been selling at higher prices and higher volumes than the Street predicts to finish out 2010 and that 2011 will be stronger than expected as well.
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The firm believes the company … Read the rest
Cree Inc (CREE) has had quite a run off the bottom in recent weeks and the run continues this morning with the stock up about another 7% on a few bullish calls.
Morgan Keegan upgraded the stock from Market Perform to Outperform and raised the price target from just $48 to $75 a few days ago. They said the headwinds are dissipating and than the supply/demand balance will be gone by the end of this … Read the rest
China Ming Yang Wind Power (MY) has announced that it signed a cooperation intention agreement with a leading China-based independent power producer for up to 200MW of wind turbines for an offshore wind project in Beibu Gulf area of China. Should the project get off the ground, MY would provide 2.5 and 3MW wind turbines while the other (unnamed) company would be the developer. Construction could begin next year.
Auriga is out with a research report on Sunpower (SPWRA) this morning following the recent analyst day and the firm is maintaining its Hold rating on the company, but lowering the price target a bit from $12 to $11. Here are the highlights..
– Operating cash flow expected to be much improved, but results have yet to be proven
– Lowering non GAAP EPS estimate due to lower margins from $1.28 to $1.25/share
– Sales … Read the rest
Auriga issued reports on both Solarfun (SOLF) and Yingli Green Energy (YGE) and remain bullish on both.
They are maintaining the Buy rating on Yingli Green Energy (YGE) but reducing the price target a bit from $15 to $13 because the firm believes margins may be peaking. However they believe the Fine Silicon depreciation and Panda expansion costs are overblown and believe the company will continue to gain market share. Shares of YGE traded down … Read the rest
The LA Times highlighted Ocean Power Technologies (OPTT) at its Environmental blog today. The company aims to be the first in the US to provide wave energy on a commercial scale. Last month they reached a milestone by providing power with a test buoy to a US Marine base in Hawaii. The next step is to connect a larger buoy to the grid in Reedsport, Oregon and ultimately build a wave energy farm off the … Read the rest
It was announced today that Sears Holdings (SHLD) will use EnerNOC’s (ENOC) EfficiencySMART system to achieve greater energy efficiency at its corporate headquarters which is a 2010 Energy Star rated facility. EnerNOC’s system combines advanced metering and data analysis software to provide insight into energy usage and recommend changes to reduce energy consumption. Sears expects to cut energy costs by about 8%.
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“We’re helping … Read the rest
With the electric car revolution ramping up next year, comes a need for charging stations in convenient locations such as grocery stores. It was recently announced that Walgreen’s (WAG) will be one of the first large retail chains to offer that convenience by adding EV charging stations next year. In a partnership with NRG Energy (NRG), the company will provide 18 fast charge EV stations made by Aerovironment (AVAV) around the Houston area. For a … Read the rest
The number of bearish solar analysts have been growing lately with many of them concerned about supply rapidly outpacing demand for 2011, but I’d have to agree with Motley Fool that if you believe anything the CEO’s of the solar companies are saying, demand will continue to be strong. Granted, many of these solar firms are continuing to ramp capacity at an extraordinary pace, which exposes them to significant risk. I’m probably somewhere in the … Read the rest
Yingli Green Energy (YGE) reported strong results this morning well ahead of analyst estimates sending the stock up about 4% on the day. The company reported a non GAAP EPS of .53 vs the analyst estimate of .36/share on revenues of $491 million vs the analyst estimate of $477 million. That represents quarter over quarter EPS and revenue growth of 194% and 32% respectively. Gross margins came in higher than the previous estimate of 31 … Read the rest