About two weeks ago Mark Bachman of Avian Securities sent out a research report indicating that the train wreck taking place in the solar industry appears to be almost over and that he’s backing off his negative industry view a bit.
The recommended trading strategy is to focus on the best solar stocks with an intent to sell in Q4. You could call it trading an oversold bounce. The firm notes that it’s not recommending … Read the rest
Jinko Solar (JKS) is surging nearly 10% in pre-market trading and may break out of a cup with handle base this morning after the company posted strong Q4 earnings results. The company smashed analyst estimates posted an EPS of $2.36 (vs the analyst estimate for $1.56) on revenues of $267.7 million (vs the estimate for just $228 million). Product shipments came in at a record 162.6MW exceeding previous guidance of 130 – 140MW.
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Auriga sent over a research report to us this morning, reiterating their cautiously bullish stance on China solar stocks following a 7 day trip throughout China. The firm visited both public and private companies and while positive in the near term for both shipments and pricing, there is some trepidation due to rising costs.
Commenting on earnings season, they feel that while most companies will post beat and raise quarters, some may reveal some margin … Read the rest
Jinko Solar (JKS) is having quite a morning, vaulting nearly 20% to new all time highs after crushing analyst estimates this morning. The company reported a whopping $1.75/share which wasn’t even close to the analyst estimate of $0.93 and a huge increase over the year ago quarter when the company reported just .09/share. Revenues were impressive as well coming in at $215 million vs the analyst consensus estimate of $153 million (a 267% increase over … Read the rest
Auriga is out this morning upgrading Jinko Solar (JKS) back to a Buy rating and raising the price target from $32 to $37 after the company announced last night a follow on offering of $2 million shares in order to raise cash for a big expansion. While equity offerings typically hit a stock price in the short term due to dilution, Auriga indicates the offering was less than anticipated and sees the move as bullish … Read the rest
The good news continues to flow from the solar space and this morning is no exception. We had the raised guidance from LDK, CSIQ reiterating its guidance and ASTI announcing an important thin film certification.
Adding fuel to the fire are upgrades out of Collins Stewart and UBS. UBS upgraded LDK Solar (LDK) following its guidance raise from Neutral to Buy and now has a $12 price target on the stock.
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Auriga is out this morning initiating coverage on recent solar IPO Jinko Solar (JKS) with a Buy rating and $23 price target (more than double the current price. Despite viewing the company as a 2nd tier China solar manufacturer, the firm sees considerable value in the stock.
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“We believe the shares are substantially undervalued and see significant upside to our $23 price target. Given our … Read the rest
Three months ago, Jinko Solar (JKS) withdrew plans for an IPO due to poor market conditions. The IPO market has certainly improved, but I don’t see any improvement in market conditions. That didn’t stop the company from going ahead and opening for trading today on the NYSE with shares pricing at $11 which was at the low end of the expected range. Shares aren’t doing much today, down just a bit at $10.90. Perhaps they … Read the rest