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 structure, the stock offers one of the best risk to reward profiles in the group.  They see FY10 EPS of .92 which is significantly ahead of the average estimate of .76/share.

====> Click Here For Your FREE Solarfun Analysis

Yingli Green Energy (YGE) gets Market Perform rating and valuation range of $11.50 – $14.50.  The firm likes its industry leading cost structure, but indicates there may be too much optimism built in and that the balance sheet needs cleaning up.  They see Yingli reporting an EPS of .94/share for FY10 which is just a bit above the average estimate.

====> Click Here For Your FREE Yingli Green Energy Analysis

Canadian Solar (CSIQ) gets a Market Perform rating and valuation range of $18 – $23.  The firm notes the exchange rate issues which CSIQ already warned about and mentions that revenue growth and margin structure remain in flux as the company chooses between market share and profits.  They see FY10 EPS at 1.34 which is lower than the current average estimate of 1.53/share.

====> Click Here For Your FREE Canadian Solar Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *