JA Solar (JASO) held an analyst day today in Valencia, Spain and remains bullish on the solar sector as well as their own company. Some highlights of the event..
– Momentum remains strong with better visibility into 2011
– Company increasing market share
– They believe they are the largest pure play solar company in the world
– Launched next gen SECIUM cells at 18.9% efficiency
– Raising its 2010 shipment guidance 1.35MW
– Customers … Read the rest
A few analyst ratings notes to tell you about this morning…
JP Morgan initiates Molycorp (MCP) with Overweight rating and $26.50 price target based on China’s rationing of supplies and raising of rare earth prices. Molycorp aims to be the biggest miner of rare earth metals in the US which are necessary for everything from electric cars to television screens. It’s been said that the Toyota Prius uses more rare earth metals than any other … Read the rest
Ascent Solar (ASTI) has announced the launch of its new line of high powered, thin film CIGS solar modules today. The WaveSol modules are the highest power 5 meter flexible thin film modules available today and are aimed at the commercial solar rooftop market. The company plans to showcase the product in October during the Solar Power International conference in Los Angeles.
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ASTI CEO … Read the rest
Canadian Solar (CSIQ) posted Q2 earnings results yesterday and Auriga is maintaining its Neutral stance on the stock since there is low visibility as to when the company can improve its margin structure. While there is expected improvement by Q4, the firm doesn’t have much confidence in the company’s ability to predict shipments. Should the margins improve as management has advertised, they may revise their 2011 estimates upwards significantly. Auriga see the stock as fairly … Read the rest
Jefferies reiterated its Buy ratings on Trina Solar (TSL), Yingli Green Energy (YGE), JA Solar (JASO) and Solarfun (SOLF) this morning. The firm believes more German & Japanese brands will source modules from China to cut costs. They believe JASO and SOLF will benefit the most while TSL and YGE may not be willing to manufacture for other brands. Shares of the China solar stocks are flat to down today after a nice run … Read the rest
Ener1 (HEV) announced this morning that it will sell $55 million of senior unsecured notes and common stock/warrants to certain investment funds as well as $10 million in senior convertible notes to partner ITOCHU Corporation. The company will use the funds for general purposes and manufacturing expansion to accommodate 11K battery packs at its facilities in Indianapolis.
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“Ener1 has heavily invested in expanding its global … Read the rest
Canadian Solar (CSIQ) reported results before the bell this morning and the results were much better than expected when you take out one time losses due to forex losses and internal audits. On a non GAAP basis, the company reported an EPS of .40/share on revenues of $328.7 million. That’s significantly ahead of the analyst estimates of an EPS at .15 and revenue at $306 million. The results were much better than the headlines would … Read the rest
JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
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Analysts have weighed in on Itron … Read the rest
Auriga issued a research report this morning on Canadian Solar (CSIQ) heading into its earnings report tomorrow. While the firm has an upside bias, it doesn’t have enough conviction either way to make a definitive call so maintains its Hold rating with a $13 price target. Cmon Mark, go out on a limb! 🙂
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They see CSIQ missing Q2 EPS estimates with shipments coming … Read the rest
LDK Solar (LDK) announced this morning that it has filed an objection for arbitration before the China Intl Econ & Trade Arbitration Commission as well as a lawsuit to demand compensation from Canadian Solar (CSIQ) due to a breach of a 10 year supply agreement signed in 2008. Despite the news, shares of CSIQ are up nearly 3% today and trying to push above resistance of the 50 day moving average.
===> Click Here For … Read the rest