Auriga was out with a call this morning maintaining its Buy rating and $24 price target on Trina Solar (TSL) following earnings. While they believe the concerns over a tumbling Euro continue to outweigh improving fundamentals in the solar sector, those with a larger appetite for risk should consider an investment in TSL. I’m with Auriga on this and looking for a spot to get in myself. That may be tomorrow if it slides … Read the rest
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Ardour Capital & Auriga Cut Yingli Green Energy (YGE) Price Targets After Earnings
Ardour Capital and Auriga weighed in on Yingli Green Energy (YGE) this morning following its earnings report yesterday.
Ardour Capital downgraded from Buy to Hold and cut the price target from $16 to $10.
Auriga maintains its Buy rating, but cut the price target from $18 to $14. They acknowledge the strong quarter and guidance, but remain concerned about the impact of the free falling Euro and have adjusted their estimates to account for a … Read the rest
Auriga Slashes China Solar Price Targets (CSIQ, JASO, SOLF, TSL, STP); Upgrades First Solar (FSLR) To Buy
A little more than a month ago, Auriga initiated coverage on solar stocks and was generally bullish outside of its Sunpower (SPWRA) Sell rating. This morning, the firm is slashing price targets of some China solar companies, but is bullish in First Solar (FSLR). I don’t really understand the cutting of price estimates right now which are due to Euro exposure. The Euro has been deteriorating for some time now. Granted, Euro weakness has accelerated … Read the rest
More Analyst Ratings: SOLR, CREE, JASO
Ardour Capital upgraded GT Solar (SOLR) from Hold to Buy and increased price target from $6 to $7.20. Shares are up nearly 5% today, but holding below what is now resistance of the 200 day moving average. Get a FREE SOLR Trend Analysis
Sidoti upgraded Cree Inc (CREE) from Neutral to Buy and has a $90 price target. Shares are up 8% and pushing back above support at the 50 day moving average and possibly … Read the rest
Analyst Rating Roundup On SunPower (SPWRA)
Several analyst ratings announcements and notes on Sunpower (SPWRA) following its earnings report to cover this morning… Hat tip to Street Insider for the analyst comments.
===> Click Here For Your FREE Sunpower Trend Analysis
Citi maintains its Sell rating and lowered the price target from $15 to $12. “In the very near-term, SPWRA has dramatically underperformed peers like First Solar (FSLR) (~3500bps in the past 7 weeks), thus hard to be overly negative even … Read the rest
Today’s Analyst Rating Roundup: HEV, ENER, STP, LDK
Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest
Today’s Analyst Ratings Roundup: Upgrades Of SPWRA, ERII, RBCN, ITRI, BWA
Auriga has reversed its call after last week’s selling, upgrading SunPower (SPWRA) from Sell to Hold. “Shares of SPWRA are now trading below our price target of $15 and are essentially 1.0x book value of $14.26.” The firm expects the company’s presentation following its earnings report tomorrow to be optimistically bullish. While demand for solar continues to improve, the still believe that margins will erode due to increasing competition and maintain the $15 price target. … 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
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
Analyst Reactions To First Solar (FSLR) Earnings
Lots of analyst reaction to First Solar (FSLR) earnings last night. Here’s the run down with a hat tip to Street Insider for the analyst commentary.
Buy Ratings
Brigantine Advisors reiterates its Buy rating and raises the price target from $144 to $150.
“Investor sentiment in the solar sector has been weak for much of this year, and we think the strong report from First Solar will go a long way to allay most concerns. … Read the rest