Some solar analyst ratings are out this morning with Friedman Billings upgrading both First Solar (FSLR) and SunPower (SPWRA) to Market Perform and price targets of $210 and $65, respectively.
JA Solar (JASO) wasn’t so fortunate, getting a downgrade from Canaccord Adams from Buy to Hold. The stock is off nearly 18% today with heavy volume, erasing yesterday’s move an then some.
Let’s not forget though that it was Canaccord Adams that initiated coverage with … Read the rest
With all the concerns being voiced about the possible impact of the credit crisis on the solar power market, it’s nice to have some good news to report. The stock market as a whole rallied a little bit yesterday, but according to Eric Savitz of Barron’s Tech Trader Daily, solar stocks in particular were "dramatically outperforming" the market as a whole. Many of the major solar players saw their share prices rise with double-digit … Read the rest
Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest
Goldman Sachs analyst Michael Molnar has had a change of heart on his rosy outlook for both Sunpower (SPWR) and First Solar (FSLR), slapping both with Sell ratings this morning, down from previous Buy ratings due to oversupply issues and a lack of European subsidies.
“The risk of oversupply in the solar market will soon become a reality as considerably less generous demand subsidies take hold just as a wave of supply and tight … Read the rest
Goldman Sachs changed the rating of several key solar power stocks from "Buy" to "Sell," according to 247Wallstreet.com. The stocks affected by the change include First Solar and SunPower. The downgrade seems to be the result of two major factors. First, some people are predicting that the supply of solar power will exceed demand for it by 2010. Secondly, the credit crunch makes it difficult for companies to get financing on new projects.
Goldman Sach’s … Read the rest
… 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
According to Clusterstock.com, JCL Holdings sold 1.4 million shares of stock in First Solar during the month of August. JCL Holdings is affiliated with Walmart heir John T. Walton, one of the founding investors in First Solar. Should First Solar stockholders be worried? Probably not. JCL Holdings still has 10.7 million shares, while Walton himself controls 23 million shares.
First Solar’s stock has risen to 14x what is was when the company went public, so … Read the rest
Adam from The Daily Options Report writes: “FSLR feels particularly enticing. Options are very cheap by FSLR standards. Which makes some degree of sense when you consider that the stock has settled into a range. But some interesting things here. It’s basically moving with the whole energy/ag/mining space right now. And has dribbled right back the to 200 Day MA. Not terribly likely it just settles in peacefully around here this week without some degree … Read the rest
Over the past week or so JCL Holdings, which owns around 15% of the company has been cashing out tens of millions in First Solar (FSLR) shares. I don’t think it’s too unusual for a company to want to take some profits on a great investment at this point, but additional insider selling should be watched closely. It most certainly has been a drag on the stock, which has been pushing down from the day … Read the rest
First Solar recently announced second-quarter revenue of $267 million which is more than 3 times its revenue from second quarter 2007. According to Zacks its a top rated alternative energy company. Its stocks have recently traded sideways and is consolidating with key levels of resistance at $290.00… Read the rest