Two firms are out this morning upgrading Sunpower (SPWRA) which has been crushed this year. Hat tip to Street Insider for the analyst comment.
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Soleil Securities upgraded from Hold to Buy.
“Checks indicate that a large volume of system development business in the PV sector is going to be finalized in the fourth quarter of this year. We believe SunPower will generate over 90 cents per … Read the rest
In recent days, California has proposed legislation that would help kick start smaller scale solar projects (1 – 20MW) using a feed-in-tariff system, but the rates would be set by an open bidding process which would help curb excessive rates for consumers while generating fair returns for the developer. The Renewable Auction Mechanism (RAM) as it’s called is just a proposal at this point, but a final ruling could come within 30 days. It’s likely … Read the rest
A-Power Energy (APWR) reported Q2 results this morning and missed analyst estimates for both EPS and revenue. The company reported a non GAAP EPS of just $0.02 versus the analyst estimate of $0.14 on revenue of $74.8 million, vs the estimate of $94.22 million. While that’s good for an increase in revenue of 31% over the year ago quarter, EPS fell 85%.
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On the bright … Read the rest
China Wind Systems (CWS) has announced a new $4.5 million contract to supply over 2K tons of forged rolled rings to Luoyang Xin Qiang Lian Bearing by September 30th of this year. Luoyang makes wind turbine components.
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“We are pleased to enter into a supply contract with Xin Qiang Lian, which further validates our product’s high-quality and performance,” said Mr. Jianhua Wu, Chairman and CEO … Read the rest
Following Trina Solar’s (TSL) earnings results, at least two firms remain bullish on the stock – Auriga and Citi. HSBC wasn’t as impressed and downgraded the stock.
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Auriga reiterates its Buy rating and raised the price target from $36 to $41.
“Management did not disappoint investors with a strong beat and raise scenario on the Q2 conference. However, after raising estimates ahead of the call last … Read the rest
It was a good day for Veeco Instruments (VECO) despite the fact the stock finished down a bit. In the morning, Citi maintained its Buy rating and $52 price target. Hat tip to Street Insider for the analyst comment:
“Consistent with our prior commentary that the low $30’s is a key trigger point for this stock, we are increasing F2011 EPS from $4.66 to $4.85 and adding the stock to Top Picks Live, Citi’s list … Read the rest
American Superconductor (AMSC) continues to expand its business in India. The company announced a $20 million order back in April from Ghodawat Energy. This morning they have announced an order from India based Inox Group for 17 sets of wind turbine electrical control systems for 2MW turbines. Inox began licensing AMSC wind turbine designs last year and recently began volume production of the 2MW turbines. No word on the financials of this deal.
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Trina Solar (TSL) beat earnings estimates this morning reporting a Q2 EPS of $0.52, 3 cents better than the analyst estimate of $0.49 on revenue of $370.8 million, vs the estimate of $336.8 million. While the numbers beat estimates, the sequential and quarter over quarter growth isn’t impressive. The EPS number is well below last quarter’s .87 and about flat over the year ago quarter EPS of .50 despite revenue more than doubling over that … Read the rest
A couple rating changes this morning..
UBS upgraded First Solar (FSLR) from Neutral to Buy and raised their price target from $136 to $150. The firm cited increased global demand. Raised 2010 EPS from $7.30 to $7.50 and 2011 EPS from $8.00 to $8.80. Shares of FSLR are up nearly 3% today and holding in well at support around the 50 and 200 day moving averages. It may be gearing up for another leg higher.… Read the rest
I’ve been on vacation for a few days so didn’t get this out Thursday night, but Canadian Solar (CSIQ) reported mixed Q1 results. The company posted a non GAAP EPS of $0.03, 4 cents lower than the analyst estimate of $0.07 on revenue of $336.9 million, vs estimate of $330.97 million. Those numbers are big increase over the year ago quarter of -.13 on the EPS side and just $49.5 in revenue. Shipments came in … Read the rest