SunPower (SPWRA) has captured a key customer it was announced this morning – the US government. They will be responsible for installations of solar power at the National Renewable Energy Lab, the General Services Administration as well as the Navy the and Air Force. The government contracts call for a minimum of 20MW in new solar projects. No word on the financials of the deal.
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“SunPower … Read the rest
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
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
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
Hapoalim Securities is out maintaining its Sell rating on Yingli Green Energy (YGE) following the earnings report.
“Based on our initial take on YGE’s 2Q10 earnings release, it reported an impressive quarter that surpassed our and Street estimates across the board. Both revenue and GMs exceeded our above-consensus forecast, while lower than-expected opex and interest income offset higher-than-anticipated FX losses to drive EPS of $0.21 ahead of our $0.15 estimate and the Street at … Read the rest
Auriga is out this morning maintaining its Hold rating on Suntech Power (STP), but lowered the price target to $9. Hat tip to Street Insider for the analyst comment.
“We find little reason to invest in shares of Suntech. While the company touts itself as the largest solar module manufacturer, we find a lack of earnings power despite the increased scale of operations. Gross margins are in the mid-teens and operating margins are in single-digits, … Read the rest
Yingli Green Energy (YGE) reported a Q2 non GAAP EPS of $0.21, 6 cents better than the analyst estimate of $0.19 on revenue of $398.1 million, vs the estimate of $371.13 million. That represents a 62% increase over the year ago EPS number and an 82% jump in revenue, so a real nice quarter from Yingli. Gross margins reached a record high 33.5% in the quarter.
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