First Solar, Inc. (FSLR, $136.31, $11,626mln Market Cap, Buy, $173.00 Price Target)
Auriga is out this morning maintaining its Buy rating and upping the price target on First Solar (FSLR) to $173 (27% above current levels). The firm sees significantly less exposure to the Euro next year and higher production levels so is increasing 2011 EPS of $8.64.
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More details of the report..
– sees … Read the rest
Jesse Pichel, who was formerly at Piper Jaffray, is now at Jefferies and initiating coverage on many green stocks. Hat tip to Street Insider for the ratings.
Buy Rating:
JA Solar (JASO) – $8 price target
Yingli Green Energy (YGE) – $15 price target
Trina Solar (TSL) – $35 price target
Itron (ITRI) – $74 price target
EnerSys (ENS) – $28 price target
American Superconductor (AMSC) – $35 price target
EnerNOC (ENOC) – $38 price … Read the rest
First Solar (FSLR) announced after the bell that it has completed the acquisition of NextLight Renewable Power providing First Solar with utility scale solar operations of 2.2GW under power purchase agreements. The company began moving into the utility scale business in 2007 with the acquisition of Turner Renewable Energy and later with the purchase of OptiSolar and Edison Mission Group.
The first project for NextLight as a First Solar company is the 290MW Caliente … Read the rest
A few analyst rating changes for today..
Hat tip to Street Insider for the analyst commentary.
Canaccord Genuity maintains Buy rating on Casella Waste Systems (CWST) and has a price target of $6 which is more than 50% higher than current levels. “We maintain our BUY on CWST with higher confidence that the company can improve recycling volumes within its recycling segment this fiscal year.” Shares of CWST aren’t moving on the positive comments, down … Read the rest
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
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
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 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
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
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