Ascent Solar (ASTI) has announced a distribution agreement with DisaSolar of France which will use ASTI’s flexible, thin film solar product in passenger train roofs and commercial signage. No word on the length or financials of the deal.
DisaSolar President Stephane Poughon stated, "Ascent Solar has a flexible, light-weight, CIGS solar module technology that is uniquely qualified to open new opportunities in everyday power … Read the rest
Shares of MEMC Electronic Materials (WFR) gapped up this morning on news its subsidiary SunEdison has sold what will be Europe’s largest solar plant to First Reserve for nearly $400 million. The 70MW Rovigo Solar Plant in Northern Italy was co-developed by SunEdison and Banco Santander and SunEdison will remain a minority investor in the project in addition to running the plant. First Reserve has made an initial payment of nearly $60 million and will … Read the rest
Yesterday, First Solar (FSLR) and Enbridge (ENR) announced they have achieved commercial operation of the Sarnia Solar Project in Ontario, making it the largest operating solar facility in the world. FSLR will operate and maintain the project for Enbridge which is expected to power nearly 13,000 homes.
Barclays came out with a few calls yesterday, maintaining its Equalweight rating on both Itron (ITRI) and American Superconductor (AMSC).
The firm has a $70 price target on ITRI which is about 15% higher than the current price. They are raising 2010 estimates from $3.35 to $3.65 and 2011 estimates from $3.67 to $4.06. Shares of ITRI are increasingly bullish in recent weeks, getting back above resistance of the 50 day moving average. In my … Read the rest
Canaccord Genuity is out with a few ratings changes in the solar space.
The firm has upgraded JA Solar (JASO) from Hold to Buy and raised the price target nearly 50% to $11. Shares are falling another 3% today despite the upgrade indicating the stock is a bit tired following a torrid run.
Wunderlich Securities rates American Superconductor (AMSC) a Buy and has a $50 price target which would represent a nearly 70% move up from current levels. The firm notes that the company has significant cash reserves and no debt. Shares of AMSC continue to remain in basing pattern and are now testing resistance of the 200 day moving average.
Auriga is out with a research note on select stocks today and remains generally bullish on the sector. They indicate that industry fundamentals remain strong both in terms of pricing and volume. Q1 volumes are strong and sold out in some cases as pricing remains firm while the 2nd half of 2011 warrants cautious optimism rather than pessimism. Here are notes on some individual names.
Jinko Solar (JKS): Sees upside to current estimates as shipments … Read the rest
There have been a few analyst calls in the past couple days I want to review here, mostly in the solar space.
Upgrades/Bullish
Yesterday, Trina Solar (TSL) was added to Morgan Stanley’s Long Research Tactical Idea list and initiated with a Buy over at Soleil, saying the firm has one of the strongest balance sheets in the industry. The stock moved a bit yesterday on the bullish calls, but really took off today, up another … Read the rest
Piper Jaffray initiated coverage on several solar stocks last night and is generally bullish with 9 Overweights and a few Neutral ratings. Most of the price targets are way above the current prices. Here’s the run down…
Barrons interviewed Aaron Chew