Deutsche Bank is out this morning maintaining its Hold rating on First Solar (FSLR) but has slashed the price target from $170 to $125. The firm believes the company is fairly valued at these levels.
“Recent pricing inputs from companies like Yingi (more substantial ASP declines) and less-than-hoped-for improvement in the demand picture for larger systems (due largely to financing availability) cause us to reassess our … Read the rest
Correction: Deutsche Bank raised the target from $167 to $170
First Solar (FSLR) held its analyst day yesterday in Vegas, reiterating near term challenges but optimistic about the future. Deutsche Bank is weighing in with its own comments saying the company is entering a transitional period as it looks to open new markets. It believes the company is uniquely positioned as one of a few solar companies that can grow the solar PV market beyond … Read the rest
According to Street Insider this morning, Deutsche Bank has initiated coverage on Quanta Services (PWR) with a Buy rating and price target of 28.
Deutsche analyst says, “Quanta, a leading specialty contractor servicing the electrical power market, is well positioned to benefit from the anticipated spike in transmission-related investment. To accommodate the rising mix of renewable energy, utilities and grid operators are increasingly turning to Quanta to help build transmission networks. With an attractive … Read the rest
* Merriman Curhan Ford downgrades from Buy to Neutral
“While we continue to believe ECD has compelling and differentiated technology that can resist the pricing pressure caused by the glut of global module supply, the company is certainly not immune the to dismal credit markets. Data from California’s Solar … 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
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