Over at SeekingAlpha.com, Kelvin Schulle makes a good case for being bullish on both JA Solar (JASO) and Canadian Solar (CSIQ) which he believes are gaining significant market share.
Here are some highlights..
On JASO:
– company improving marketing and diversifying its customer base to include emerging markets
– continuing to improve panel efficiency
– China demand continues to improve
They will report earnings May 19th.
Get more JASO analysis here
On CSIQ:
– its … Read the rest
When I first started looking at solar stocks a few years ago, I assumed Canadian Solar was from Canada. Logical assumption, but this is a Chinese company that was doing business almost exclusively in China. It’s certainly more of a global company now and it can say it has a strong presence in Canada after announcing contract offers for 176MW in open field PV generation projects. The contracts were awarded as part of Ontario’s new … Read the rest
A few noteworthy analysts comments and rating changes in the solar space today…
Soleil Securities reiterated its Sell rating on First Solar (FSLR) but back pedaled a bit saying they are raising their estimates and wouldn’t be short heading into earnings. They still have a sub $100 price target. How’s that for conviction. Shares of FSLR were initially positive this morning, but are now trading down fractionally. Get your FSLR Trend Analysis.
Morgan Stanley … Read the rest
Canadian Solar just announced that they have released their NewEdge solar panels in the US market. The panels are compatible with the new Zep roof-mounting System, and used together the products have the potential to reduce installation costs by half and reduce the amount of time spent to install the panels on a roof by 75%.
The NewEdge solar panels are available in two different varieties, one using 5″ monocrystalline silicon, and one using 6″ … Read the rest
The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … Read the rest
This morning an analyst at Wedbush has initiated coverage of several China solar stocks according to Street Insider.
They are the most bullish on Trina Solar (TSL) with an Outperform and $25 price target.
CSIQ, SOLF and YGE get Neutral ratings with price targets of $22, $7 and $11 respectively.
It has some concerns about Suntech (STP) so has an Underperform rating and $10 price target.
“Chinese module manufacturers have been gaining global market … Read the rest
According to Street Insider, Piper Jaffray has responded to a negative Barron’s article over the weekend saying that the article is another sign that the negative sentiment on solar stocks has been priced in already and that the sector is poised to rebound with better visibility in the second half of the year. They went on to say that the German feed-in tariff cuts should stimulate growth and reiterated their Overweight ratings on Yingli … Read the rest
While Canadian Solar (CSIQ) posted record revenues this morning and excluding one time forex losses beat analyst estimates on the EPS side by a penny. Shares are up about 3% in premarket trading.
The company posted an EPS of .47/share on surging revenues of $287 million which is a record for the company and ahead of the estimate of $267 million. Sequentially, it’s the 3rd straight improvement for CSIQ and a huge improvement over the … Read the rest
Canadian Solar (CSIQ) is out this morning updating its outlook for the 4th quarter and traders aren’t liking the outlook for a lower gross margin due to higher processing costs, defective production equipment and clearing of old inventory. On the bright side, the company does expect shipments to be slightly higher than previous estimates of 128 – 138MW. Canadian Solar will report earnings on March 3rd.
Shares are down about 10% in premarket trading, but … Read the rest
Canadian Solar just announced that it has successfully installed the first 250 kW photovoltaic (PV) rooftop system in Ontario. The system consists of 1,326 Canadian solar panels on approximately 74,668 square feet, and was installed on the rooftop of a building owned by Towcon Holdings. Aecon was the installation partner.
In a press release, Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc.,commented:
“Canadian Solar has been providing solar solutions to customers in over … Read the rest