Jefferies is out reiterating its Buy rating on shares of Yingli Green Energy (YGE) and has a $17 price target (more than 60% higher than current levels). The firm views YGE as a top solar player. Shares aren’t moving on the Buy reiteration in pre-market trading.
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Piper Jaffray upgraded shares of Codexis (CDXS) to Overweight from Neutral and raised the price target to $12 from … 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
Two noteworthy analyst notes this morning on American Superconductor (AMSC) and Energy Conversion Devices (ENER).
Wedbush maintains its Underperform rating on ENER and is lowering the price target from $9 to $7. Hat tip to Street Insider for the following analyst note:
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“We believe ENER will continue to struggle as oversupply conditions continue and demand for niche products like flexible BIPV remains below expectations. While we … Read the rest
According to StreetInsider.com, Jefferies is out with several solar upgrades following the two week plunge.
SunPower (SPWRA) upgraded from Hold to Buy, but price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. Shares are up about 3% in premarket trading.
Suntech (STP) upgraded from Underperform to Hold with a $12 target. Shares are basically flat in premarket trading.
Solarfun (SOLF) upgraded from Underperform to Hold with a $7 … Read the rest
Two green stock upgrades this morning in CSIQ and ITRI..
Collins Stewart is upgrading Canadian Solar (CSIQ) to Buy and setting the price target at $21.
Hat tip to Street Insider for the following analyst notes.
The firm still sees Q3 traditional module shipments of 90MW, but lowered its quarterly estimate for eModules from 15MW to 10MW. Collins Stewart also lowered its Q3 average selling price estimate from $2.15 per watt to $2.08. The firm … Read the rest
I mentioned the upgrades in the post before. Now for the downgrades. Jefferies is out this morning cutting the entire sector and downgrading several solar companies due to the same concerns we’ve heard for many months… oversupply and lack of demand.
First Solar (FSLR) cut to Hold from Buy
SunPower (SPWRA) cut to Hold from Buy
Suntech Power (STP) cut to Underperform from Hold
Ascent Solar (ASTI) cut to Underperform from Hold
China Sunergy (CSUN) … Read the rest
Over the weekend, Barron’s wrote up a piece on First Solar (FSLR) highlighting the company’s negative free cash flow and goes so far as to say the revenue beat was a figment of bookkeeping for a project in Berlin in which the company recognized $84 in revenue. The author also questions the OptiSolar transaction and the way the company booked the value of a PG&E contract. All in all, it didn’t help the stock much … Read the rest
Earlier this morning, Jefferies upgraded EnerNoc (ENOC) from Hold to Buy following its strong earnings report last night. Canaccord Adams is positive on the company as well, reiterating its Buy rating on the company and raising the price target from $28 to $32.
Hat tip to StreetInsider.com for the following analyst note:
“Strong execution across the board, as better-than-expected MW additions and expense control drove the significant top-/bottom-line beat. Looking ahead, with gross margins … Read the rest