According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the … Read the rest
Sunpower (SPWRA, SPWRB) will report earnings on Thursday after the bell and analysts are rushing in to slash estimates ahead of the earning announcement. According to Barron’s, Friedman Billings Ramsay, Thomas Weisel Partners and Pacific Crest all issued warnings this morning.
– Mehdi Hosseini of FBR reiterated his Market Perform rating but cut his 09 EPS estimate to $2.06 from $3.02 due to slow demand in Italy and the US.
– Jeff Osborne of … Read the rest
Nigel Coe, a Deutsche Bank analyst, downgraded Kaydon Corporation’s stock from "Hold" to "Buy," causing shares in the company to tumble. Coe also reduced his earnings per share estimate for the stock, dropping it from $2.01 to $1.76. Afterwards, Kaydon stock decreased in value by $2.02, closing at $31.10 on Friday.
Coe downgraded the stock based "on concerns about the stock’s relative strength, as well as weakness in the company’s core bearings business."
According to analysts at MDB Capital, if you’re holding on to Ener1 stock, now may be the time to let it go. The reason? Think Global, Ener1’s major customer, has run into some financial difficulties. Here’s a quote from the analysts published on StreetInsider.com:
… Read the rest"Think Global, Ener1’s most important near-term customer, announced it was temporarily halting production of its Think City electric vehicle due to working capital constraints. The company, which unsuccessfully approached the
Collins Stewart analyst Dan Ries . Ries gave the following reasons for the downgrade:
… Read the restRies notes that the credit crisis has lead to increased borrowing costs for solar projects, putting pressure on solar module prices. Also hurting: a 13% drop in the Euro against the dollar since July. Ries also notes that the stock has been trading at about 9.6x estimated FY ‘09 EPS, a premium to the 3-5x ‘09 multiples carried by most of