The good news continues to flow from the solar space and this morning is no exception. We had the raised guidance from LDK, CSIQ reiterating its guidance and ASTI announcing an important thin film certification.
Adding fuel to the fire are upgrades out of Collins Stewart and UBS. UBS upgraded LDK Solar (LDK) following its guidance raise from Neutral to Buy and now has a $12 price target on the stock.
==> Click … Read the rest
Another wild day and I’m busy watching the market and getting behind on green stocks updates! Lots of analyst rating changes today..
Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy. Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash. Get a Free WFR trend analysis here.
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Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed … Read the rest
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest
Collins Stewart likes the Suntech Power (STP) earnings report as much as I did and is upgrading the stock from Sell to Hold and has a $14 price target on it. Hat tip to Street Insider for the following analyst comment:
The full details of STP’s blow out 4Q09 can be seen in the attached table, but the highlights are that revenues were 13% above our forecast and an EPS of $0.27 triple our $0.09 … Read the rest
According to StreetInsider.com, Collins Stewart is out this morning joining the solar bull parade and raising the targets and estimates for both Canadian Solar (CSIQ) and Trina Solar (TSL).
They reiterate the Buy rating on Canadian Solar and padded the price target to $40 from $26. The firm cites “slightly higher volumes and a higher average selling price in Q210.” Raised Q2 ASP assumption from $1.70/w to $1.80/w and its CY10 shipment forecast from … Read the rest
Two green stock upgrades this morning in CSIQ and ITRI..
Collins Stewart is upgrading Canadian Solar (CSIQ) to Buy and setting the price target at $21.
Hat tip to Street Insider for the following analyst notes.
The firm still sees Q3 traditional module shipments of 90MW, but lowered its quarterly estimate for eModules from 15MW to 10MW. Collins Stewart also lowered its Q3 average selling price estimate from $2.15 per watt to $2.08. The firm … Read the rest
Yingli Green Energy (YGE) is erasing Friday’s losses after Collins Stewart maintained its Buy rating and raised the price target from $10 to $11 and Lazard Capital upgraded the stock from Hold to Buy this morning.
Here are the comments from Collins according to Street Insider. Not exactly bullish comments!
“YGE’s 1Q09 revenues were $146M, 20% below our $181M forecast and the $194M consensus. Revenues were down 36% yr/yr and 43% sequentially. We estimate … Read the rest
According to StreetInsider.com, Collins Stewart is maintaining its Sell rating on both Suntech Power (STP) and Solarfun (SOLF) but raising its price targets on both. It’s raising the price target on STP from $6.50 to $10 and raising the price target on SOLF to $3.
Suntech commentary:
Collins analyst says, “Our CY09 forecast calls for STP generate $1.73B in sales and EPS of $0.20, both of which are below the consensus of $1.86B and … Read the rest
Hat tip to StreetInsider.com for this alert today:
Collins Stewart doubled its price target on Trina Solar (TSL) from $11 to $22 and maintained its Buy rating saying, “A combination of factors drives the adjustment to our price target. Since we launched coverage, the prospect for China to become a significant consumer of solar modules has improved, as a limited solar subsidy program has been announced and more are expected in the months ahead. Valuations … Read the rest
According to StreetInsider.com, Collins Stewart is downgrading FSLR this morning to Hold from Buy. It’s basically a valuation call after a big run in the stock. They said…
“Due to the price increase seen in recent sessions, FSLR has reached a point where we find the risk/reward more balanced for investors. With yesterday’s rally, the shares are now within 16% of our $175 price target and trading at 22.5x our FY09 EPS forecast of … Read the rest