Auriga was out with a call this morning maintaining its Buy rating and $24 price target on Trina Solar (TSL) following earnings. While they believe the concerns over a tumbling Euro continue to outweigh improving fundamentals in the solar sector, those with a larger appetite for risk should consider an investment in TSL. I’m with Auriga on this and looking for a spot to get in myself. That may be tomorrow if it slides … Read the rest
Category Archives: Solar Energy
MEMC Electronic Materials (WFR) Reinstates $550 Million Share Repurchase Program
I’m starting to get real interested in shares of MEMC Electronic Materials (WFR) down here and today’s announcement that the company will reinstate their repurchase program may just get me into a small position soon. The program was suspended in April 2009, but has been reinstated. Up to $550 million in repurchase capacity remains and the company may purchase common stock on the open market or through privately negotiated transaction. The program may be modified … Read the rest
Solarfun (SOLF) Smashes Estimates With Record Revs & Profits, Shares Soar
Solarfun (SOLF) reported what has probably been one of the most impressive solar earnings reports this earnings season. Not only did the company properly hedge to avoid currency exchange losses, but they reported record revenues and smashed analyst estimates. No wonder the stock was up nearly 20% at one point today.
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The non GAAP EPS of .40 was more than double what analysts expected (.19). Revenues beat … Read the rest
Yingli Green Energy (YGE) To Put Off US Plant
According to Reuters, Yingli Green Energy is putting off a decision to open a 100MW plant in the US, citing market uncertainty as a key factor. Yingli had previously stated it planned to have the plant up and running by the end of this year.
===> Click Here For Your FREE Yingli Green Energy Analysis
Helena Kimball, head of marketing communications at Yingli, explained the decision further to Reuters:
“We are delaying the decision … Read the rest
Ardour Capital & Auriga Cut Yingli Green Energy (YGE) Price Targets After Earnings
Ardour Capital and Auriga weighed in on Yingli Green Energy (YGE) this morning following its earnings report yesterday.
Ardour Capital downgraded from Buy to Hold and cut the price target from $16 to $10.
Auriga maintains its Buy rating, but cut the price target from $18 to $14. They acknowledge the strong quarter and guidance, but remain concerned about the impact of the free falling Euro and have adjusted their estimates to account for a … Read the rest
Trina Solar (TSL) Beats With Record Revenues & Shipments, Sees Minimal Impact From Euro Concerns
Trina Solar (TSL) reported record revenues and shipments this morning, beating analyst estimates in the process despite a $14 million forex hit. The company posted and EPS of .66 on revenues of $336.8 million, which was better than the analyst estimates of .61 and $328 million respectively. That’s good for a 155% jump in revenues over the year ago quarter as shipments rose to 193MW. That’s a record for shipments and above their previous guidance. … Read the rest
SunEdison (WFR) Partnering With First Reserve In JV to Provide Funding For $1.5B Of Solar Projects
SunEdison, a division of MEMC Electronic Materials, just announced a new joint venture with First Reserve. The joint venture could provide funding for the acquisition of up to $1.5 billion in solar projects.
To start, SunEdison and First Reserve will contribute an initial equity commitment of 167 million. Combined with additional debt financing under consideration, this will fund the acquisition of $825 million of SunEdison’s solar assets. Depending on market conditions, First Reserve may also … Read the rest
Yingli Green Energy (YGE) Beats As Margins Hit Record, Reaffirms Guidance
Yingli Green Energy (YGE) was out with strong earnings results this morning, beating Wall St estimates in the process. The company reported a non GAAP EPS of .23 on revenues of $358.9 million. That beat analyst estimates by .01 and $5 million respectively and represents a 146% revenue increase over the year ago quarter. Gross margins hit a new record at 33.3%.
===> Click Here For Your FREE Yingli Green Energy Analysis
Other highlights:
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Applied Materials (AMAT) Launches Applied SmartFactory Advanced Automation Software
Applied Materials just announced the launch of a new product, Applied SmartFactory(TM) MES* software. The software allows LED, chip packaging and solar factories to track and streamline the movement of materials through the facility. In less than 60 days after deployment, the product leads to higher product quality and better productivity, along with reduced costs.
In a press release, Charlie Pappis, vice president and general manager of Applied Global Services, explained the advantages of the … Read the rest
Auriga Slashes China Solar Price Targets (CSIQ, JASO, SOLF, TSL, STP); Upgrades First Solar (FSLR) To Buy
A little more than a month ago, Auriga initiated coverage on solar stocks and was generally bullish outside of its Sunpower (SPWRA) Sell rating. This morning, the firm is slashing price targets of some China solar companies, but is bullish in First Solar (FSLR). I don’t really understand the cutting of price estimates right now which are due to Euro exposure. The Euro has been deteriorating for some time now. Granted, Euro weakness has accelerated … Read the rest