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
UBS maintains its Buy rating and increases the price target from $150 to $160. The firm increases its 2011 and 2012 EPS estimates from $8.80 and $9.50 to $9.15 and $10.00.
Needham & Company upgraded from Underperform to Hold but indicated the valuation remains rich and investors should focus on solar stocks with lower multiples such as JA Solar (JASO) or LDK Solar (LDK).
JP Morgan raised the price target from $105 to $115.
Jefferies … Read the rest
Here’s a run down of today’s green stocks analyst calls…
(via Benzinga) Axiom Capital pointed out an article over at the Financial Times (in German) that discussed the potential of additional solar subsidy cuts in Germany due to increasing electricity rates associated with the boom in solar installations. Nothing set in stone yet, just proposals. Solar stocks have been slammed in recent weeks and were down another 2% today (solar ETF TAN).
JP Morgan … Read the rest
A few bullish analyst calls to tell you about this morning.
Yesterday I posted about Verenium’s (VRNM) approval in China for Purifine which sent the stock soaring. The pull back today is offering a 2nd chance opportunity. Shares have pulled back to what is now support around the 200 day moving average.
Olympia Capital chimed in on the news and upgraded the stock from Neutral to Buy and raised the price target from $3 to … Read the rest
A few analyst ratings notes to tell you about this morning…
JP Morgan initiates Molycorp (MCP) with Overweight rating and $26.50 price target based on China’s rationing of supplies and raising of rare earth prices. Molycorp aims to be the biggest miner of rare earth metals in the US which are necessary for everything from electric cars to television screens. It’s been said that the Toyota Prius uses more rare earth metals than any other … Read the rest
A few big firms are out with coverage on Tesla (TSLA) this morning. Hat tip to Street Insider for the analyst comment from Deutsche.
J.P. Morgan (JPM) initiated coverage on Tesla Motors (TSLA) with an Overweight rating and price target of $25.
Goldman Sachs (GS) initiated coverage with a Neutral rating and $21 price target.
Deutsche Bank initiated coverage with a Hold rating and $17 price target.
“We believe that Tesla’s deep technical talent, head-start … Read the rest
JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest
According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share. Shares are trading up about 6% in premarket trading. First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear … Read the rest