Real Goods Solar (RSOL) posted a real good quarter after the bell today, surprising Wall St by reporting a profit. Ok, the profit was miniscule at $17k, but it was much better than the .04/share loss analysts had expected and marked the 3rd straight quarter of profitability. Revenues matched analyst estimates of $15 million and represented a 58% improvement over the year ago quarter. The company attributed the improved margins to better installation practices, solar … Read the rest
Category Archives: Solar Energy
More Wells Fargo (WFC) Coverage Of Solar Stocks: SOLF, YGE, CSIQ
Last night I posted the Well Fargo analyst notes on STP, TSL & SOL as the firm initiated coverage of the sector. This morning I have a few more notes for SOLF, YGE & CSIQ courtesy of Street Insider.
Wells Fargo initiates coverage of Solarfun (SOLF) with an Outperform and valuation range of $10-$12.50. They believe that SOLF has been unappreciated in the past and that with a new management team and improving cost … Read the rest
Auriga Upgrades Canadian Solar (CSIQ) To Buy, "Negative Catalyst Has Passed"
Auriga is out upgrading Canadian Solar (CSIQ) this morning to Buy from Hold, but lowered the price target from $25 to $21. The firm believes that CSIQ’s pre-announcement in which it announced a Forex hit as well as lower margins, has been priced in for the most part ahead of earnings (no official date announced yet).
Says the firm: “The gross margin decline was worse than expected, and when combined with the charge to Other … Read the rest
Wells Fargo Initiates Coverage Of Solar Stocks: TSL, STP, SOL
Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
Evergreen Solar (ESLR) Reports Mixed Results
Evergreen Solar (ESLR) reported uninspiring results again this quarter as profitability remains elusive. The company upped guidance a few weeks ago, which gave the stock some life, but it’s back towards all time lows. There are some highlights in the quarter, but as I’ve said in the past, unless this company can cut costs significantly they aren’t going anywhere. The strategy to “go somewhere” is to go elsewhere for manufacturing.. China. There is some good … Read the rest
Caving To Competition? Auriga’s Mark Bachman Uncovers The Sunpower (SPWRA) Serengeti Low Efficiency Product Line
In a press release this morning, Sunpower (SPWRA) touted its new high efficiency E19 solar panels with an efficiency of 19.5%. Behind the glitz, glamour and press releases of being a world leader in high efficiency solar cells, there is an ugly side. That ugly side comes in the shape of competition .. from Chinese manufacturers willing to sell less efficient panels at a much lower price. Isn’t global competition wonderful? Not for many US … Read the rest
Friday’s Analyst Roundup: AIXG, RBCN, ENOC, BWA, MXWL
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
SunEdison (WFR) To Build 12 New 1 MW Plants In Italy
SunEdison, a division of MEMC Electronic Materials,has just announced that it has been selected to build 12 new solar power plants in Italy. The plants are to be located in the Lecce, Apulia. Each will have a capacity of 1MW. To finance the projects, SunEdison also announced a financing deal with Norddeutsche Landesbank for 47 million euros.
In a press release, Carlos Domenech, president of SunEdison, commented on the news:
“The announcement of these projects, … Read the rest
SunPower (SPWRA) Releases New Product Line
SunPower just announced that it has released a new product line. The SunPower E19 Series solar panels consists of modules in a 96-cell or 72-cell configuration that boast efficiency of 19 percent or more. This is accomplished with larger all-back contact solar cells that make more efficient use of space, as well as an anti-reflective coating. In a press release, Tom Werner, SunPower CEO, commented on the new product line:
“We are pleased to … Read the rest
SunPower (SPWRA) Adds 40 MW To California Valley Solar Ranch Contract
Sunpower just announced that it has added an additional 40 MW of capacity to its contract for the development of the California Valley Solar Ranch for PG&E. That means that the completed plant will be 250MW, one of the largest solar PV plants in the world.
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In a press release, Howard Wenger, president of SunPower’s utilities and power plants business group, commented on the news:
“We … Read the rest