In recent days, California has proposed legislation that would help kick start smaller scale solar projects (1 – 20MW) using a feed-in-tariff system, but the rates would be set by an open bidding process which would help curb excessive rates for consumers while generating fair returns for the developer. The Renewable Auction Mechanism (RAM) as it’s called is just a proposal at this point, but a final ruling could come within 30 days. It’s likely … Read the rest
Tag Archives: auriga
Auriga, Citi Maintain Buy On Trina Solar (TSL); HSBC Downgrades
Following Trina Solar’s (TSL) earnings results, at least two firms remain bullish on the stock – Auriga and Citi. HSBC wasn’t as impressed and downgraded the stock.
====> Click Here For Your FREE Trina Solar Analysis
Auriga reiterates its Buy rating and raised the price target from $36 to $41.
“Management did not disappoint investors with a strong beat and raise scenario on the Q2 conference. However, after raising estimates ahead of the call last … Read the rest
Auriga Maintains Hold On Suntech (STP), Lowers PT, Finds Little Reason To Invest
Auriga is out this morning maintaining its Hold rating on Suntech Power (STP), but lowered the price target to $9. Hat tip to Street Insider for the analyst comment.
“We find little reason to invest in shares of Suntech. While the company touts itself as the largest solar module manufacturer, we find a lack of earnings power despite the increased scale of operations. Gross margins are in the mid-teens and operating margins are in single-digits, … Read the rest
Auriga Upgrades JA Solar (JASO) To Buy, Maintains Hold On Sunpower (SPWRA)
Auriga is out with a few solar calls this morning.
It maintains its Hold rating on SunPower (SPWRA) with a price target of $12.
“The quality of SPWRA’s earnings continues to be a problem for us. Through the magic of non-GAAP accounting, SunPower was able to beat the Street consensus of $0.10, while on a GAAP basis the company recorded a loss of $0.06. The story on the call was largely unchanged, with management exuding … Read the rest
Auriga Reiterates Buy On First Solar (FSLR), Raises PT To $175
Auriga remains quite bullish on First Solar (FSLR) following last night’s earnings report, reiterating their Buy rating and raising the price target to $175. The firm believes it’s separating itself from the competition by continuing to drive costs lower. During the quarter, manufacturing costs declined by 6% over the previous quarter and 13% year over year. While they indicate some negatives on the conference call, overall Auriga believes the positives far outweigh the negatives. They … Read the rest
Auriga Raises First Solar (FSLR) Price Target To $173
First Solar, Inc. (FSLR, $136.31, $11,626mln Market Cap, Buy, $173.00 Price Target)
Auriga is out this morning maintaining its Buy rating and upping the price target on First Solar (FSLR) to $173 (27% above current levels). The firm sees significantly less exposure to the Euro next year and higher production levels so is increasing 2011 EPS of $8.64.
====> Click Here For Your FREE First Solar Technical Analysis
More details of the report..
– sees … Read the rest
Auriga Lifts Price Targets On Solarfun (SOLF) & JinkoSolar (JKS)
Auriga is out maintaining its Buy rating on both Solarfun (SOLF) and JinkoSolar (JKS) and has raised the price targets for both.
Price target for SOLF goes from $9 to $13. “We have increased confidence that management will expand capacity meaningfully in 2011 and are modeling 979MW of shipments versus year-end capacity of 1,250MW… Our findings appear to be corroborated by the July 19 press release where the company announced plans to increase cell capacity… Read the rest
Auriga Reiterates Buy Rating On JinkoSolar (JKS)
Auriga initiated coverage on recent solar IPO JinkoSolar (JKS) with a Buy rating more than two weeks ago. Since that time, the stock has seen very bullish trading action, breaking out above 11 with good volume and running quickly to $13 before pulling back. This morning Mark Bachman reiterates his Buy rating on the company and the $23 price target.
====> Click Here For Your FREE JinkoSolar Technical Analysis
“We continue to profess that shares … Read the rest
Auriga Initiates Jinko Solar (JKS) With Buy Rating
Auriga is out this morning initiating coverage on recent solar IPO Jinko Solar (JKS) with a Buy rating and $23 price target (more than double the current price. Despite viewing the company as a 2nd tier China solar manufacturer, the firm sees considerable value in the stock.
====> Click Here For Your FREE Trina Solar Technical Analysis
“We believe the shares are substantially undervalued and see significant upside to our $23 price target. Given our … Read the rest
Auriga Intersolar Analysis: Solar Industry Fundamentals Strong, Sees Opportunities In FSLR, TSL, YGE, SOLF
Auriga is out this morning with some notes on the solar industry after attending Intersolar in Munich, Germany. The firm believes industry fundamentals remain strong with robust European demand being driven by attractive rates of return on solar projects. They believe that as long as project returns are attractive, and both debt and equity financing remains available, demand for PV projects will continue to surprise versus the bearish outlook.
Here are more notes from the … Read the rest