According to Barrons, Barclays Vishal Shah came out with a warning today saying trouble in the solar sector is far from over and cut the sector to Neutral. Solar stocks are under pressure today on the warning, but the report out of LDK Solar last night isn’t helping either. Both of the solar ETFs (tickers TAN, KWT) are breaking back below their 50 day moving averages with heavy volume today.
The warning was issued due … Read the rest
Solar stocks were slammed today as oil prices continued to retreat and the cautious comments out of Barclays didn’t help either. Barrons reported this morning that analyst Vishal Shah is cautious on solar heading into Q2 earnings because of the magnitude of the recent rally and the unlikelihood of US & China demand picking up the Germany slack.
He made price cuts as well:
– ENER from $13 to $17 on customer financing
– FSLR … Read the rest
According to StreetInsider.com, Citi is out maintaining it’s HOLD rating on Evergreen Solar (ESLR) but cut the price target from $6 to $3.
Says Citi:
“We applaud ESLR’s new strategy to focus on its competitive advantage making wafers that use less silicon. But even with much lower capital intensity, it still faces a tradeoff between slowing capacity expansion to preserve cash or gunning it, hoping to raise money. While this move makes this stock … Read the rest