JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will decrease demand in 2nd half of year
– oversupply will become a problem as companies race to expand market share
– sees module ASPs contraction of 20% or more driving margin compression
– another German subsidy cut on Jan 1, 2011 pressuring demand further
Here are some analyst comments specific to First Solar (FSLR):
– the firm notes all the negativity surrounding the stock but feels investors are too comfortable with an EPS of $6 this year. They see very little margin for error in these estimates and see much bigger risk in those estimates
– they are lowering the price target from $140 to $85
FSLR, ESLR and ENER are all down a few percent this morning.
I am looking for the name and the ticker symbol of the company that is making or going to make the energy-efficient light bulb to replace the common one.
Also, if it is possible, please send me the ticker symbol of all the green chip stocks.
Thanks a million