GT Solar (SOLR) continued its big surge off the bottom after announcing the first orders for its LED manufacturing equipment.  Today, the stock got another boost when Wunderlich Securities said the company is way undervalued and would be an attractive buy out.  The firm notes that SOLR has among the lowest PE ratios in the solar sector, just ahead of JA Solar (JASO).   Ah, but the beauty of this company is that they are diversifying into the LED manufacturing business.  I mentioned that it would be big for SOLR when they made the purchase, indicated it again when they announced the first orders and still believe it.  This is perhaps one of my favorite green stock plays for the future.

==> Click Here For Your FREE Daily GT Solar Analysis

Pacific Crest Securities believes the LED business will help the company offset in slow down in the solar segment.  I couldn’t agree more.  They believe shares are undervalued as well.

Shares of SOLR are now up nearly 50% in just a week, so obviously too extended in the short term.  However, a pull back to around the 50dma around the 8.50 might provide a decent point to scale in if you missed the bottom off the 200 dma just over a week ago.