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
Like Evergreen Solar, JA Solar is also unveiling a new line of high efficiency solar cells. The new product line, called SECIUM, has been certified with an 18.9 percent conversion efficiency by the Fraunhofer Institute for Solar Energy Systems.
In a press release, Dr. Peng Fang, CEO of JA Solar, commented on the new product:
“The launch of our SECIUM solar cells illustrate the company’s commitment to develop cutting-edge process technology for next-generation, high … Read the rest
Needham & Company has come out with updates on their ratings of several solar stocks. Hat tip to Street Insider for the analyst comments:
Initiated coverage on First Solar (FSLR) with an Underperform and $92 price target.
“As the world’s largest producer of solar panels with the best cost structure, First Solar is benefiting from strong near-term demand and a growing pipeline of utility scale solar projects. However, we are concerned that margins will deteriorate … Read the rest
A little more than a month ago, Auriga initiated coverage on solar stocks and was generally bullish outside of its Sunpower (SPWRA) Sell rating. This morning, the firm is slashing price targets of some China solar companies, but is bullish in First Solar (FSLR). I don’t really understand the cutting of price estimates right now which are due to Euro exposure. The Euro has been deteriorating for some time now. Granted, Euro weakness has accelerated … Read the rest
Credit Suisse demonstrates once again why analyst estimates and ratings are for the most part worthless. Rarely are analysts ahead of the curve and Credit Suisse is no exception. They are out this morning maintaining their Neutral and Outperform ratings, but cutting price targets well after these stocks have plummeted to new lows. I believe solar stocks are close to bottoming out, based on some minor capitulation moves seen yesterday. Many are ripping higher again … Read the rest
Street Insider was out with a research note from iSuppli today forecasting big growth in solar leader Germany ahead of the feed-in-tariff reduction in July which will have companies scrambling to complete installations. That’s not too much of a surprise, but the firm also sees significant growth after the tariff reduction, particularly in rooftop solar systems.
They are forecasting 6.6GW of solar installations for 2010 in Germany which is a 70% increase over last year, … Read the rest
Ardour Capital upgraded GT Solar (SOLR) from Hold to Buy and increased price target from $6 to $7.20. Shares are up nearly 5% today, but holding below what is now resistance of the 200 day moving average. Get a FREE SOLR Trend Analysis
Sidoti upgraded Cree Inc (CREE) from Neutral to Buy and has a $90 price target. Shares are up 8% and pushing back above support at the 50 day moving average and possibly … Read the rest
As expected, JA Solar (JASO) is reporting a very good quarter this morning, beating analyst estimates .18/share, by reporting a non GAAP EPS of .33/share on revenues of $279 million vs the analyst estimate of $265 million. That’s the 4th straight quarter of sequential growth and a huge improvement over the year ago quarter when the company posted just $34 million in revenue and lost .18/share. Shipments increased to a record 272MW and gross … Read the rest
Another wild day and I’m busy watching the market and getting behind on green stocks updates! Lots of analyst rating changes today..
Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy. Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash. Get a Free WFR trend analysis here.
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Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed … Read the rest
This morning Think Equity has upgraded JA Solar JA Solar (JASO) from Hold to Buy and upgraded Suntech Power (STP) from Sell to Hold. JASO is moving up 2% in premarket trading while STP is down a bit. Get a free trend analysis for JASO and STP.
On the LED front Merriman Curhan Ford is reiterating its Buy rating on Veeco Instruments and raised the price target range about 30% to $54-66. Says Merriman, … Read the rest