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
Canadian Solar just announced a new sales contract with Fire Energy Group. Under the contract, Canadian Solar will provide Fire Energy with 60MW of solar PV modules, with shipments expected to start this month. Fire Energy Group will also promote Canadian Solar’s product line in the following countries: Spain, Germany, Italy, the U.S., the Czech Republic, Morocco and China.
In a press release, Shawn Qu, Chairman and CEO of Canadian Solar, commented on the agreement:… Read the rest
Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17% in April. German cuts have long been expected, but some had called for a 10% reduction later in the year, so this is a bit more than what some expected. Not to mention solar stocks (the China names in particular) have been on a tear, so any negative news was bound to throw … Read the rest
Canadian Solar (CSIQ) has announced a partnership and distribution deal with West Holding of Japan to push further into a growing Japanese solar market. As part of the joint venture, CSIQ will transfer 14% of the shares of the Canadian Solar Japan subsidiary to West Holding. West Holding will be responsible for marketing and distribution of approximately 18MW in residential rooftop solar systems this year.
CSIQ CEO Shawn Qu said, “West Holding is a leading … 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
Canadian Solar just announced its intention to build a new solar panel manufacturing plant in Ontario, Canada. The company is currently making plans and determining the plant’s exact location, size and cost. The plans are expected to be finalized next year. Tentatively, the company plans to build a 200MW plant with an estimated cost of approximately C$24 million. A plant of this size would create 500 new manufacturing jobs and produce enough solar modules to … Read the rest