The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … Read the rest
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According to Street Insider, Kaufman Bros has reinstated coverage on First Solar (FSLR) with a Buy rating and has a $140 price target.
The firm calls First Solar “the preeminent stock in the solar space” which should represent a “core holding for investors.” Kaufman notes that a recent sell-off in the stock (about 7% since mid-March) “provides an opportunity to get in at a reasonable, … Read the rest
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General Electric (GE) made its first move into the thin film solar market in 2007 when it acquired a stake in PrimeStar Solar (of which it now has a majority stake). It appears the company is sold on PrimeStar’s cadmium telluride thin film technology which happens to compete directly with industry leader First Solar (FSLR) and continues to … Read the rest
First Solar just announced that it is now an Associated Partner in the Desertec Industrial Initiative, which aims to demonstrate the potentila of photovoltaic (PV) solar technology to produce power in desert areas by using a combination of PV solar and wind energy to supply a significant percentage of electricity for the Middle East, Northern Africa and Europe by 2050.. First Solar will contribute by providing expertise and preparing the ground for reference projects and … 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
First Solar (FSLR) has found a buyer for its Cimarron I Solar Project out in Northern Mexico and they didn’t have to look far. It has announced this morning that Southern Company (SO) and Turner Renewable has purchased the 30MW solar plant which is expected to supply power to around 9000 homes beginning sometime this year. Turner Renewable was previously owned by Ted Turner and was purchased by First Solar in late 2007. Southern Company … Read the rest
Helping to ease the sting of a JP Morgan (JPM) downgrade, First Solar (FSLR) has found a buyer for 300MW of solar energy that will be produced from a plant its manufacturing in SoCo. Pacific Gas & Electric will purchase 300MW of the 550MW expected output of the Desert Sunlight project with Southern California Edison purchasing the rest. Both power purchase agreements are still subject to approval by the California Public Utilities Commission, but … Read the rest
JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest
First Solar (FSLR) and Cree Inc (CREE) are two stocks moving in opposite directions, but they have one thing in common – the Chairman of both companies, Michael Ahearn at FSLR and Chuck Swoboda at CREEl, have been dumping stock. According to Street Insider, Ahearn has sold off 43% of his holdings or nearly $150 million just days after the company reported earnings. A move like that doesn’t exactly exude confidence and the stock … Read the rest
ThinkEquity & Merriman Curhan Ford are out with downgrades of First Solar following earnings.
ThinkEquity downgrades from Buy to Hold
Merriman Curhan Ford downgrades from Buy to Neutral. “We are downgrading to Neutral given the uncertain business outlook in 2H10 despite a strong 4Q09 and management reaffirming its 2010 earnings guidance. Solar module makers are expected to face revenue and margin volatility as a result of changing conditions in overcapacity and FiT policies. (We would … Read the rest