Auriga sent over a research report to us this morning, reiterating their cautiously bullish stance on China solar stocks following a 7 day trip throughout China. The firm visited both public and private companies and while positive in the near term for both shipments and pricing, there is some trepidation due to rising costs.
Commenting on earnings season, they feel that while most companies will post beat and raise quarters, some may reveal some margin … Read the rest
(Please note, I missed this report, so reporting late) GT Solar (SOLR) reported strong earnings after the bell several days ago, beating analyst estimates by a wide margin in the process. The company reported an EPS number of .46/share on revenues of $262.9 million (vs the analyst estimate for .34/share on revenues of $222.7 million). That’s good for EPS and revenue growth of 84% and 51% respectively.
Auriga is out reiterating its Buy rating and $17 price target on Yingli Green Energy (YGE) ahead of its earnings report Friday morning. Here are highlights of the notes..
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· Stock price does not reflect cash flow implied by 2011 estimates. The stock has risen enough to account for stronger than expected Italian demand.
· Margins better than guided in 4Q, but still decline … Read the rest
Satcon Technology (SATC) will be the solar inverter supplier for a 19.5MW solar project in Germany. They will supply 39 of their PowerGate 500kW which represents the largest German order for the company.
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“The Tauberlandpark project is one of Germany’s largest Utility-Scale solar power installations,” said Andreas Schneider, Chief Executive Officer of relatio Holding. “A project of this scale demands that we partner with an industry … Read the rest
Southern California Edison (SCE) has signed a power purchase agreement with First Solar (FSLR) for 250MW of solar electricity from the FSLR Silver State South project. The project will consist of 2500 ground mounted solar panels on 2500 acres of public land near Primm, Nevada. It will interconnect with with SCE’s proposed Eldorado Ivanpah transmission line. The project is expected to begin producing electricity by 2014 and fully operational by 2017, but still requires approval … Read the rest
Yingli Green Energy (YGE) announced it has signed a new 20MW solar module supply agreement with San Diego-based Borrego Solar Systems Inc. for 2011 which will be used in commercial projects across the US. Borrego Solar isn’t a stranger to Yingli. They bought 10MW from Yingli last year.
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Shares of YGE aren’t moving on the news today, down a few percent, but much improved … Read the rest
Suntech Power (STP) signed a deal with Sempra Energy worth a few hundred million to supply 150MW in solar panels for Sempra’s Mesquite 1 solar project in Arizona. Sempra had used First Solar’s thin film panels in the past so this is a big win for Suntech’s technology. The company recently opened a plant in Arizona to manufacture solar panels, but they indicated that most of the panels will come from China. Last year Suntech … Read the rest
EMCORE (EMKR), is moving up nicely today with volume after reporting earnings. I don’t see anything in the report that would lead to a surge, but traders clearly like the direction the company is headed. They reported another loss of .03/share on revenues of $52 million which was 23% higher than the year ago quarter.
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The company expects revenues in the range of $46 – … Read the rest
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 … Read the rest
Yessterday, Auriga downgraded shares of First Solar (FLSR) to Hold from Buy since the stock has appreciated considerably in the past few months and about reached their price target which remains at $167.
===> Click Here For Your FREE Daily First Solar Analysis
The firm maintains a 15x multiple on shares of FSLR due to its superior business model and for comparison stake their highest ranked China solar stocks are given a 10x multiple.
Shares … Read the rest