According to StreetInsider.com, Piper Jaffray is out cutting estimates on the solar sector due to poor visibility. Piper analyst Jesse Pichel lowered industry estimates for the 1st half of 09 and downgraded their rating of Canadian Solar (CSIQ) to Sell and ReneSola (SOL) to Neutral due to low order visibility for Q1 in Germany and zero visibility in other markets but expects some recovery in late spring, early summer but only if credit markets … Read the rest
Tag Archives: eslr
Today’s Analyst Upgrades/Downgrades & Notes On Alternative Energy Stocks: FSLR, WFR, ESLR, ASTI, TSL, AVAV
It’s getting late but wanted to run down the upgrades/downgrades of today as well as a few notes..
Lazard Capital Markets analyst Sanjay Shrestha said this week that although macroeconomic factors continue to depress alternative energy stocks, the future looks bright. “We believe Barack Obama’s election is a long-term positive for the alternative energy group,” Shrestha said. “Until the financial markets show signs of stability, the economy will likely continue to overshadow other policy agenda … Read the rest
Evergreen Solar (ESLR), GT Solar (SOLR), Energy Conversion Devices (ENER) & Sunpower (SPWRA) Get UBS Downgrade
According to StreetInsider.com UBS is downgrading the following:
– Sunpower (SPWRA) downgraded from Neutral to Sell (down
– Evergreen Solar (ESLR) downgraded from Buy to Neutral and $2.60 price target
– GT Solar (SOLR) downgraded from Buy to Neutral and $4.25 price target
– Energy Conversion Devices (ENER) from Buy to Neutral and $31 price target
Despite the downgrades, all solar names are up premarket with the overall market.… Read the rest
Evergreen Solar (ESLR) Reports Steep Loss, Wedbush Downgrades
Evergreen Solar (ESLR) is selling off more than 10% today after missing estimates and reporting losses in the latest quarter despite a 21% increase in revenue over the year ago quarter. Analysts were expecting a 10 cent loss in the quarter, but ESLR missed badly reporting an .18/share loss.
Wedbush Morgan downgraded the stock this morning from Buy to Hold and lowered the price target to $5 from $6, due to uncertainty over ESLR achieving … Read the rest
Energy Bill Extending Renewable Energy Tax Credits Lifts Solar Stocks
With the bill to extend investment tax credits for renewable energy (finally!) past the Senate, Shares of several stocks that had taken a beating began to rise again. For example, shares of Energy Conversion Devices (ENER), which had taken a nosedive of 18.5% on Tuesday, were back up by 13 percent, to $63.79. Solar Integrated Technologies, one of Energy Conversion Devices major clients, lowered its guidance for the second half of 2008 based in part … Read the rest
Upgrades/Downgrades: HOKU, VSE, ESLR
A few upgrades and downgrades to tell you about today..
Evergreen Solar (ESLR) upgraded from Sell to Hold by Citi
“With ESLR more clearly defining its exposure to a Lehman Bros. bankruptcy, the worst-case scenario is now well defined. The primary issue is dilution as ESLR might not recover funds on the issuance of ~30MM shares to LEH as part of a share lending agreement. Although ESLR may also be out the ~$40MM it has … Read the rest
Piper Jaffray Comments On Solar Exposure to Lehman (JASO, SPWR, ESLR)
According to StreetInsider.com, Piper Jaffray analyst Jesse Pichel has commented on the solar stocks that are related to the Lehman bankruptcy, saying that Sunpower (SPWR), JA Solar (JASO) and Evergreen Solar (ESLR) are negatively affected with respect to prior convertible bond transactions and stock lending agreements. The firm said it would be prudent to assume the worst.
On JASO: “We estimate JASO would realize ~4% dilution on stock and incur a non-cash write off … Read the rest
Evergreen Solar (ESLR) and JA Solar (JASO) Stock Drop Significantly Due To Recent Deals With Lehman Brothers
Shares of both Evergreen Solar and JA Solar have experienced significant loss in value over the past couple of days due to their dealings with now-bankrupt investment banking giant Lehman Brothers. In June, Evergreen Solar lent Lehman Brothers 30,856,538 shares for hedging transactions, and buyers are afraid that Evergreen won’t get the money back for those shares. Prices dropped by $1.70/share yesterday, down to $4.60.
Michael El-Hillow, Chief Financial Officer, released the following statement… Read the rest
Solar Energy Gets A Shout-Out From Cowen and Co. Analyst
… Read the restMSN Money reports that on Thursday, Robert W. Stone, an analyst from Cowen and Co, released a report providing an upbeat analysis for solar energy stocks. Assuming a investment tax credit in the US for solar power, as well increased participation from utilities and the states, demand for solar should climb from 6 gigawatts in 2008 to 14 gigawatts in 2010. He also expects use of solar power to grow in Italy and France, and
Evergreen Solar (ESLR) Loss Widens, Warns Of Margin Hit
Evergreen Solar Inc (ESLR.O: Quote, Profile, Research, Stock Buzz) on Thursday reported a wider quarterly loss. It blames that on the cost of opening new production facility. Its forecasting third quarter results will be lower than analysts estimates. Shares are down 9.4 percent. It is also warning that margins will be hot for the rest of the year as it is trying to increase the capacity.
In a statement, Evergreen said … Read the rest