I thought I’d provide a short summary on some of the analyst reactions coming out after First Solar’s (FSLR) earnings report Thursday night. In light of the half way decent quarter, it’s no surprise that nearly all of the analysts maintained their current ratings on the stock with some obviously remaining more bearish than others.
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JP Morgan maintained its Underweight rating and $115 price target. The … Read the rest
I just posted about Trina Solar’s (TSL) strong earnings report and wanted to give a run down on some analyst reactions. The consensus is generally bullish with a hint of caution.
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Hapoalim Securities maintains Hold but raised the price target from $27 to $30. The firm sees the company as a leader in solar manufacturing.
Wells Fargo maintains Hold rating but raised the valuation range … Read the rest
Hapoalim Securities is raising its 2010 and 2011 estimates on Trina Solar (TSL) and is raising the price target from $21 – $27 driven by firm pricing, a rebounding Euro and lower input costs. Shares of TSL were hit hard on Friday with heavy volume, but held support at the 200 day moving average and our recovering a bit today.
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Hapoalim is also raising … Read the rest
According to Benzinga, Hapoalim Securities sees flat worldwide demand for solar in 2011 at around 15GW. Due to changes to incentives they see significant drops in Germany and the Czech Republic, but some growth in Italy, US, Japan and China. However, they don’t see growth in those countries offsetting the declines in Germany and Czech. It’s been a rough couple weeks for most solar stocks and the declines continue today. Taking a look at … Read the rest
Analysts are weighing in on First Solar (FSLR) earnings results and it’s a bit of a mixed bag.
Deutsche Bank downgraded the stock to Hold from Buy and lowered the price target from $155 to $125. While the company notes that the quarter was strong and guidance was raised they have more concerns about 2011 with early data pointing to declining margins .
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Hapoalim … Read the rest
Barrons interviewed Aaron Chew of Hapoalim Securities and discussed the solar industry. Here are some highlights.
– Highlights the significant incentive cuts across Europe which will slow demand.
– Sees big growth in solar in Italy (23%), US (45%) and China (100%) for next year, but declining or flat growth in key markets such as Germany.
– Tight supply should be begin loosening up
– Sales pricing should decline 18 – 24%
– More difficult … Read the rest
Hapoalim Securities is out maintaining its Sell rating on Yingli Green Energy (YGE) following the earnings report.
“Based on our initial take on YGE’s 2Q10 earnings release, it reported an impressive quarter that surpassed our and Street estimates across the board. Both revenue and GMs exceeded our above-consensus forecast, while lower than-expected opex and interest income offset higher-than-anticipated FX losses to drive EPS of $0.21 ahead of our $0.15 estimate and the Street at … Read the rest
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.
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Hapoalim Securities believes that First Solar may eventually … Read the rest
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest
Shares of Yingli Green Energy (YGE) are holding steady this morning despite the Sell rating by Hapoalim Securities.
The analyst comment below courtesy of StreetInsider.com
“After updating our model to include: (1) higher ASPs (inline w/ YGE’s guidance),(2) higher shipments (above YGE’s guidance), & (3) lower poly-Si sourcing costs (which implies YGE works thru the majority of its excess poly-Si inventory), we are still below the Street for C3Q09; given our analysis suggests consensus is … Read the rest