In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
Tag Archives: hapoalim securities
Trina Solar (TSL) & Yingli Green Energy (YGE) Get Hapoalim Downgrades
According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the … Read the rest
Barrons: First Solar’s (FSLR) Largest Customer (Phoenix Solar) Warns, Stock Plunges Further And Headed to 150
According to Barron’s, First Solar’s (FSLR) largest customer Phoenix Solar (according to Hapoalim Securities analyst Gordon Johnson), has issued a warning, saying not to rely on previous earnings estimates due to a continued decline in pricing for solar modules, customer buying resistance and increased devaluation requirement for current inventories. The company will only issue guidance once prices have stabilized but they do expect positive EBIT for the year.
Based on this, Gordon Johnson issued a … Read the rest
Has Suntech Power (STP) Signed A 500MW Chinese Solar Deal?
I’m throwing this out there and if anyone has additional information to report feel free to post in the comments below. There was a report in the WSJ today that Suntech Power (STP) may soon sign a big 500 MW China deal. Apparently, a report by a local China media outlet was widely circulated that the Qinghai province has signed a 500 MW deal with Suntech.
Suntech spokesman Steve Chadima told Dow Jones Newswires … Read the rest
Hapoalim Securities Starts First Solar (FSLR) With Sell Rating, $90 Target
According to StreetInsider.com, Hapoalim Securities is going against the grain of yesterday’s 5 Buy ratings on First Solar (FSLR) and issuing a Sell rating and $90 price target.
The firm indicates that FSLR is a high quality firm with less implied risk but that a better entry point may emerge once the dust settles. Their concerns include a weakening Euro, Germany risk, lower selling prices, Malaysia start up costs as well as headwinds in … Read the rest
Analysts Continue Negative Outlook On Solar Energy Sector
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
Suntech (STP) Hit With Sell Rating
It was a crazy week last week for me so I need to catch up a bit in the world of green stocks! On Thursday of last week, Suntech Power (STP) was hit with a sell rating and price target of $16 by Hapoalim Securities (who?) saying they are impressed by the cost structure of the company but believes their 35 – 45%% exposure to Spain and nearly 85% exposure to Europe will hurt them … Read the rest