I mentioned the Oppenheimer upgrade of Suntech Power (STP) this morning on Green Stocks @Twitter, but the firm has rating and price target updates on other solar stocks as well. Hat tip to Street Insider for the heads up.
Bullish on Yingli Green Energy (YGE) and gets upgrade from Outperform to Perform and $17 price target (about 30% higher). Want more YGE analysis?
Downgrades Canadian Solar (CSIQ) from Outperform to Perform and lowered and … Read the rest
Macquerie is clearly frustrated with Canadian Solar (CSIQ) and has cut its rating from Outperform to Neutral following the company’s guidance last night in which they indicated a forex hit and a bit of a margin contraction. Maquerie says this 2nd negative revision in two quarters has “weakened its standing with investors” and “two strikes is enough.” They have slashed their 1Q EPS estimate from .53 to .03 and the price target from $35 to … Read the rest
Canadian Solar (CSIQ) is out tightening the shipment guidance after the bell today from the previously expected 180 – 190MW range to 189 – 191MW, but is expecting an $18 – 20 million forex hit in the quarter due to the depreciation of the Euro against the US dollar. They expect gross margins at around 13%. CEO Shawn Qu expects a strong quarter this quarter as well and indicated the company will better hedge against … 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
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
Solar analyst Mark Bachman of Auriga USA (formerly of Pacific Crest) initiated coverage of several solar stocks after the bell today. Hat tip to Street Insider for the following analyst comments:
Trina Solar (TSL) initiated at Buy with $34 price target (about 30% above current levels). More TSL analysis here
“We initiate coverage of Trina Solar with a Buy rating as the most under appreciated Chinese solar company we follow. While the stock is up … 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