First Solar (FSLR) will form a new utility systems business group to address the large-scale photovoltaic (PV) system solutions market which will be headed by current CFO Jens Meyerhoff. Following its NextLight acquisition which is expected to close this quarter, the company sees big potential in the utility scale business and will have 2.2GW in power purchase agreements under its belt from the deal. The company will look for a replacement CFO as soon as … Read the rest
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Goldman Sachs (GS) On China Solars: Buy JASO; Neutral YGE, TSL; Sell STP
I just posted about a few US solar companies Goldman Sachs (GS) initiated coverage on and here is the China solar coverage. Again, hat tip to Street Insider for the ratings this morning.
JA Solar (JASO) initiated with a Conviction Buy rating and $7.50 price target. It’s calling JASO it’s “top pick”, citing an improvement to cash returns and a better looking balance sheet than its solar competitors. Shares are up nearly 5% today. Get … Read the rest
Goldman Sachs (GS) Initiates Solar Coverage: Buy FSLR, Neutral SPWRA, Sell WFR
The big gorilla Goldman Sachs (GS) has finally begun covering the solar sector and initiated coverage of the US solar sector with a Neutral rating and initiated coverage on a few of the largest solar companies too. Hat tip to Street Insider for the heads up on these ratings this morning.
It begins First Solar (FSLR) coverage with a Buy rating and $150 price target. They view the increased exposure to the US utility scale … Read the rest
Citi Maintains Hold On First Solar (FSLR), Raises PT To $140, Sees Growth In 2012
Citi is out this morning maintaining its Hold rating on First Solar (FSLR) and raised the price target from $125 to $140.
“FSLR remains mired in a multi-year flattening of EPS from 2009-2011 with significant growth not likely until 2012. On the downside, if $6 is worst-case, this supports our view that stock price of $100 or slightly lower is where we’d expect to get more bullish. On the upside, if Street starts to look … Read the rest
Morning Analyst Ratings (COMV, FSLR, CREE)
Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
Today’s Analyst Rating Roundup (AONE, HEV, VLNC, FSLR, SPWRA, ERII)
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
Auriga Intersolar Analysis: Solar Industry Fundamentals Strong, Sees Opportunities In FSLR, TSL, YGE, SOLF
Auriga is out this morning with some notes on the solar industry after attending Intersolar in Munich, Germany. The firm believes industry fundamentals remain strong with robust European demand being driven by attractive rates of return on solar projects. They believe that as long as project returns are attractive, and both debt and equity financing remains available, demand for PV projects will continue to surprise versus the bearish outlook.
Here are more notes from the … Read the rest
Cantor Fitzgerald: Sell FSLR, Goldman Sachs Slashes AONE Price Target
Goldman Sachs slashed its price target on A123 Systems (AONE) this morning from $15 to $9, but kept the Neutral rating following a meeting with management. The firm raised 2010-2012 revenue estimates, but forecasts larger EBITA losses. The firm raised 2010 revenue estimates form $139M to $141M, 2011 from $262M to $276M and 201 from $416M to $431M. EBITA loss estimates rise from ($76M) to ($98M) for 2010, ($44M) to ($67M) for 2011 and $13M … Read the rest
Today’s Analyst Ratings Roundup: FSLR, AONE, WPRT
Just a few analyst rating changes/price target adjustments today.
Morgan Stanley has cut the price target on First Solar (FSLR) from $160 to $145 this morning, but maintains its Overweight rating. This follows price cuts from Citi and Hapoalim yesterday. Shares are holding up well today, up about 2% and continue to hold the key $100 level. Click Here For Your FREE First Solar Analysis
Macquarie initiated coverage on Westport Innovations (WPRT) with a Buy … Read the rest
First Solar (FSLR) Announces German Capacity Expansion, But Shares Hit On Citi/Hapoalim Price Cuts
Good news and bad news for First Solar (FSLR) today. While the company announced its intent to double capacity at the Frankfurt, Germany plant, the stock is getting hit on the Citi and Hapoalim price cuts. The Citi price cut which I posted about earlier isn’t extraordinary, but the Hapoalim price cut to $65 is an eye opener.
===> Click Here For Your FREE First Solar Analysis
Hapoalim Securities believes that First Solar may eventually … Read the rest