A few analyst ratings/notes to highlight this morning.
The biggest was the two notch upgrade of LDK Solar (LDK) by Bank of America from Underperform to Buy due to lower risks of oversupply. Following the LDK Solar earnings report, I mentioned that I thought the stock offered a very compelling entry down at these levels and has the potential to double or triple if you’re patient. I still believe that. Shares of LDK gapped … Read the rest
Akeena Solar just announced a new partnership with Westinghouse. Under the terms of the exclusive, global agreement, Akeena will now manufacture, distribute, market and install its solar panels using the Westinghouse name.By using the Westinghouse name for Akeena’s Andalay line of solar panels, the company hopes to attract consumers by tapping into their trust and familiarity with the Westinghouse name.
===> Click Here For Your FREE Akeena Solar Analysis
In a press release, James … Read the rest
Yingli Green Energy (YGE) has announced it will be providing the solar modules for what will be France’s largest solar plant. Yingli will provide 33MW to developer MAETEL beginning in October and finish up next spring. The solar plant in Curbans, France will be owned by GDF SUEZ Group and produce 43.5 million kw/hours of renewable energy each year.
===> Click Here For Your FREE Yingli Green Energy Analysis
“We are pleased to announce this … Read the rest
Three months ago, Jinko Solar (JKS) withdrew plans for an IPO due to poor market conditions. The IPO market has certainly improved, but I don’t see any improvement in market conditions. That didn’t stop the company from going ahead and opening for trading today on the NYSE with shares pricing at $11 which was at the low end of the expected range. Shares aren’t doing much today, down just a bit at $10.90. Perhaps they … Read the rest
Ardour Capital upgraded GT Solar (SOLR) from Hold to Buy and increased price target from $6 to $7.20. Shares are up nearly 5% today, but holding below what is now resistance of the 200 day moving average. Get a FREE SOLR Trend Analysis
Sidoti upgraded Cree Inc (CREE) from Neutral to Buy and has a $90 price target. Shares are up 8% and pushing back above support at the 50 day moving average and possibly … Read the rest
Several analyst ratings announcements and notes on Sunpower (SPWRA) following its earnings report to cover this morning… Hat tip to Street Insider for the analyst comments.
===> Click Here For Your FREE Sunpower Trend Analysis
Citi maintains its Sell rating and lowered the price target from $15 to $12. “In the very near-term, SPWRA has dramatically underperformed peers like First Solar (FSLR) (~3500bps in the past 7 weeks), thus hard to be overly negative even … Read the rest
Solarfun has just announced that it will increase its module capacity to 900Mw by August of this year in order to keep up with increased demand from customers. As part of this effort, the company also announced that it has purchased a 25MW cell production line from Semiconductor Manufacturing International Corporation. The purchase, along with Solarfun’s own previously announced expansion efforts, will increase its capacity to over 500MW by July.
In a press release, Peter … Read the rest
STR Holdings (STRI) continues to impress following its debut last year. It’s been one of the most steady IPO’s, nearly doubling in price since last November as it follows an up trend along the 50 day moving average. The fundamentals weren’t all that impressive while the stock was running up, but now we know why. The technicals always lead the fundamentals and the company just reported strong growth after the bell today and is guiding … Read the rest
SunPower (SPWRA) reported mixed results after the bell today missing analyst estimates on the EPS side (reporting .05 vs estimate of .08), but matched the revenue number at $347 million. Compared to the year ago quarter, the results look darn good because that was a terrible quarter in which the company reported a loss for the first time in several years. Sequentially, it was well below the .47/share and $548 million they reported in Q4, … Read the rest
Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest