Auriga is out downgrading shares of Solarfun (SOLF) this morning from Buy to Hold, but maintains the $13 price target because the firm feels the company may miss margin estimates on the Q3 call due to higher input prices. While they remain considerably bullish on the company, they recommend stepping aside until consensus expectations are re-evaluated.
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Their 2011 assumptions are unchanged and clarity on ramping … Read the rest
Yesterday First Solar (FSLR) raised its shipment guidance for 2011 and now sees shipments increasing 380MW over previous estimates due to signed agreements with seven key customers that will primarily serve European markets.
"Our customers continue to expect robust growth in the market for solar electricity in Europe next year," said Stephan Hansen, managing director of First Solar’s European sales and customer service organization. "The additional volumes will allow First Solar to continue to scale … Read the rest
MEMC Electronic Materials (WFR) subsidiary SunEdison will deploy utility scale solar plants in Texas through a contract with CPS Energy and combined it’s expected to be one of the largest solar facilities in the state. SunEdison will build, own and operate three solar plants totaling 30MW which will help CPS Energy achieve its renewable energy target of 20%. Construction will begin next year. No word on the financials of the deal.
Jim Cramer did a piece on solar stocks last night and said he still doesn’t like China solar stocks (many of which are up at least 50% in the past few months) and that the way to play it is with a beaten down US solar company – MEMC Electronic Materials (WFR). From an industry standpoint, he highlights the fact that oil prices are inching closer to $100 once again and the increase in construction … Read the rest
Tri-Tech Holdings (TRIT) continues its breakout move this morning and it has a catalyst. The company has won a $30 million contract for a drinking water treatment plant in Inner Mongolia. Expect many more of these kinds of contracts in China in the coming years. TRIT is one of the best ways to play the clean drinking water issues in China. This particular plant is expected to be one of China’s largest drinking water treatment … Read the rest
Merriman Capital initiated coverage on both Orion Energy (OESX) and Powersecure (POWR) with Buy ratings. OESX which is an efficient lighting/LED play has had a huge run off the bottom in recent weeks, but a bit overdone in the short term. It’s an LED play to keep on the radar.
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STR Holdings (STRI) was initiated with a Buy and $33 price target at Craig … Read the rest
Clean Energy Fuels (CLNE) landed a big deal today in which the company will build, own and operate CNG/LNG fueling centers at Pilot Flying J truck travel centers at select locations. With the availability of the new class-8 natural gas trucks being rolled out from several manufacturers, the company sees a big opportunity.
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"Pilot Flying J is the clear leader in the truck stop … Read the rest
JA Solar (JASO) is announcing a nice win this morning, getting a 185MW supply deal with BP Solar of which most of the 85MW to be supplied this year has already been delivered. They will deliver another 100MW next year. No word on the financials of the deal.
JASO CEO Peng Fang commented: "We have been working with BP Solar, which has its headquarters in San Francisco, since 2008 and we are very pleased to … Read the rest
Yesterday American Superconductor (AMSC) announced the rebranding of its 2nd generation HTS wire to Amperium and it appears the marketing strategy is paying off! This morning they announced a large order from Korea’s LS Cable for a million feet which AMSC will begin shipping in 2012.
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The two companies are no strangers. In March, they announced a partnership to deploy more than 31 miles … Read the rest
EMCORE (EMKR) has finally announced its unaudited financial results for its third quarter after filing a delay with the SEC in August because the company needed more time to review its accounting for inventory write-downs.
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During the 3rd quarter, the company determined that about $2.5 million of excess and obsolete inventory should have been recorded in the quarter ending Sept 30th 2009. There were other … Read the rest