Barclays upgraded ReneSola (SOL) from Equalweight to Overweight and increased the price target from $10 – $12.
“Although SOL has been our near-term top pick since Mar ’10, uncertainty with respect to 2011 demand and weak execution track record were some of the factors restraining us from having a more constructive longer term outlook on the shares. We now expect wafer market fundamentals to remain relatively robust in 2011.”
Category Archives: Solar Energy
Trina Solar (TSL) In 35MW Supply Deal With SunEdison
Trina Solar (TSL) has announced that its US subsidiary will supply MEMC Electronics (WFR) subsidiary SunEdison with 35MW of solar modules for the rest of this year to be used in projects in the US and Europe.
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“This collaboration once again demonstrates Trina Solar’s ability to partner with leading U.S. solar industry players to create effective PV solutions in the U.S. market,” said Mr. Sean … Read the rest
Suntech Power (STP) Reports In-Line Results, Guides Higher
Suntech Power (STP) reported a Q2 non GAAP EPS of $0.03 (taking out provisions and restructuring charges related to thin film and Shunda, which is below the analyst estimate of $0.10 (correction – that is inline with analyst estimate of .03). Revenue for the quarter was $625.1 million, which compares to the estimate of $595.39 million. While the EPS number was 50% lower than the year ago quarter, revenues nearly doubled over … Read the rest
LDK Solar (LDK) To Add 1.5GW Of Capacity With New Facility
LDK Solar (LDK) announced that they have been invited by Anhui Provincial Governmen to invest in a solar cell and module facility in Hefei High-Tech Industrial Development Zone to establish a renewable energy manufacturing hub in the Province. The facility will include an annual capacity of 1.0 GW of solar cells and 500 MW of solar modules with production expected to begin Q2 2011. Hefei High-Tech Construction and Investment Group will provide financing of RMB … Read the rest
Auriga Upgrades JA Solar (JASO) To Buy, Maintains Hold On Sunpower (SPWRA)
Auriga is out with a few solar calls this morning.
It maintains its Hold rating on SunPower (SPWRA) with a price target of $12.
“The quality of SPWRA’s earnings continues to be a problem for us. Through the magic of non-GAAP accounting, SunPower was able to beat the Street consensus of $0.10, while on a GAAP basis the company recorded a loss of $0.06. The story on the call was largely unchanged, with management exuding … Read the rest
Analysts Generally Bullish On Sunpower (SPWRA) Following Results
Following Sunpower’s (SPWRA) earnings report last night, a few analysts are out with calls today and generally bullish. Hat tip to Street Insider for the analyst comments.
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Ardour Capital upgrades from Hold to Accumlate.
“As Fab 3 ramps production in 2011, we look for increasing scale and throughput to begin to narrow the CPW gap. The Company’s UPP pipeline continues to build, and its premium price … Read the rest
STR Holdings (STRI) Beats, Raises Guidance
STR Holdings (STRI) reported strong results after the bell today beating analyst estimates in the process. The company reported a Q2 EPS of $0.44, 10 cents better than the analyst estimate of $0.34 on revenue of $96.7 million, vs the estimate of $91 million. That’s a more than tripling of profits over the year ago quarter and a 62% surge in revenues. Those numbers may have the stock back at all time highs tomorrow. STRI … Read the rest
LDK Solar (LDK) Smashes Estimates, Guides Way Above
LDK Solar (LDK) has hit it out of the park today, smashing analyst estimates and guiding way above estimates for next quarter and the full year. The company reported a Q2 EPS of $0.36, 14 cents better than the analyst estimate of $0.22 on revenues of $565.3 million, vs the estimate of $458.40 million. That’s good for jumps of 118% and 148% in EPS and revenue quarter over quarter respectively.
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Sunpower (SPWRA) Reports Mixed Results
Sunpower (SPWRA) reported mixed results after the bell today, beating on the EPS side, but missing revenue forecasts. The company reported an EPS of .15/share, 5 cents ahead of expectations on revenues of $384 million which as a bit below expectations of $401 million. All in all, a strong quarter for Sunpower (SPWRA) though and the stock has been so crushed so bad that traders are likely looking for an excuse to buy in.
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JA Solar (JASO) Beats, Guides Higher But Shares Slump
JA Solar (JASO) has reported strong earnings results this morning, beating analyst estimates and posting significant sequential and quarter over quarter growth. Traders are selling the news though with the stock down nearly 10% in early trading. The company reported a non GAAP EPS of .27/share, vs the analyst estimate of .24/share on revenues of $351 million vs the estimate of $304 million. Sequentially, it’s a modest improvement over last quarter by 15% on the … Read the rest