Some solar analyst ratings are out this morning with Friedman Billings upgrading both First Solar (FSLR) and SunPower (SPWRA) to Market Perform and price targets of $210 and $65, respectively.
JA Solar (JASO) wasn’t so fortunate, getting a downgrade from Canaccord Adams from Buy to Hold. The stock is off nearly 18% today with heavy volume, erasing yesterday’s move an then some.
Let’s not forget though that it was Canaccord Adams that initiated coverage with … Read the rest
Canadian Solar (CSIQ) announced a small deal with a leading German solar installer IIiotec a few days ago and this morning its announcing another deal with German systems integrator Systaic, a customer since the beginning of this year. CSIQ will supply Systaic with 60MW in solar modules to be delivered next year
CEO Shawn Qu: “The next-year order booking ratio we achieved in September is the highest in the Company’s history. This demonstrates the … Read the rest
Canadian Solar (CSIQ) announced a 28MW sales contract with German installer IIiotec with an option for an additional 20MW in 2009.
Chairman and CEO Shawn Qu remarked: “These two contracts mark the seventh and eighth annual 2009 sales contracts we have signed with our long-term and loyal European customers in the past month. These contracts typically feature fixed prices for the first six months. The demand and pricing for Canadian Solar’s products remains strong and … Read the rest
Canadian Solar (CSIQ) is reiterating its top-line revenue and gross margin guidance for 2008 of $850-$970 million and 13%-15%, respectively. For 2009 the company is reiterating their shipment and gross margins guidance of 500 – 550 MW and 13 – 15% respectively.
Guidance comes as the company reports good progress of its ingot and wafer plant with Phase I completed and Phase II expected to be completed by year end, ahead of schedule. CSIQ also … Read the rest
Canadian Solar (CSIQ) has signed two long term supply contracts with GCL Silicon Tech strengthening its polysilicon and wafer supply chain. Under terms of the deal, GCL Silicon will supply CSIQ with 500 metric tons of polysilicon this year and next and nearly 2 GW of wafers from 2010 to 2015
"These two contracts help us to further secure our supply chain with strong suppliers at favorable long-term contract prices," Canadian Solar Chief Executive Shawn … Read the rest
Canaccord Adams is raising its price target on CSIQ from $43 to a whopping $44 and reiterates its BUY rating according to StreetInsider.com. Why the big jump in price target you ask?
Canaccord liked the recent quarter results and noted that the earnings were at the high end of its pre announcement. The firm also likes the fact that it already has all of this year’s plans funded and 70% of its supply coverage … Read the rest
Briefing.com reports that Canadian Solar reports Q2 results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line Reports Q2 earnings of $0.36 per share, includes one-time non-cash debt conversion charge of $10.2 million, may not be comparable to the First Call consensus of $0.47; revenues rose 24.2% year/year to $212.6 million vs the $206.8 million consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 million vs. $247.63 million consensus. Co … Read the rest
According to the StreetInsider.com Canaccord Adams initiated both JA Solar (JASO) and Canadian Solar (CSIQ) with buy ratings this morning.
On JASO:
“We are initiating coverage on JA Solar with a BUY rating and $19 price target as we believe that it will continue to benefit from its leading position in the silicon solar cell market and from its low-cost strategy.”
On CSIQ:
“Given the likelihood for raised expectations, the near-term benefit of UMG access, … Read the rest
According to StreetInsider.com, Deutsche Bank upgraded Canadian Solar (CSIQ) from HOLD to BUY with a $45 price target due to valuation after the recent sell off.
“We are upgrading CSIQ to Buy (from Hold) following a substantial retracement in the stock, an improved operational outlook (i.e. GM reset to mid-teens, traction in UMG-Si based e-modules, no data to de-rail the UMG-Si argument over the near-term, capital raise and capacity expansion through 2010), and a … Read the rest
According to StreetInsider.com, Canadian Solar (CSIQ) are upping their revenue estimates for the 2nd quarter with an expected range of 210 -214 million, up from the previous forecasted range of 185 – 190. The company also reiterated its full year 2009 forecast and expects to deliver 500-550MW of solar modules.… Read the rest