According to StreetInsider.com, Piper Jaffray is out cutting estimates on the solar sector due to poor visibility. Piper analyst Jesse Pichel lowered industry estimates for the 1st half of 09 and downgraded their rating of Canadian Solar (CSIQ) to Sell and ReneSola (SOL) to Neutral due to low order visibility for Q1 in Germany and zero visibility in other markets but expects some recovery in late spring, early summer but only if credit markets … Read the rest
Tag Archives: ldk solar
LDK Solar (LDK) Reports 3rd Quarter Results, Growing Sales Fuel Higher Earnings
In some good news, LDK Solar reported its 3rd quarter results today. The company’s third quarter earnings jumped due to higher demand and increased sales. For example, revenue jumped a whopping 241% to $541.8 million, beating the company’s own predictions. Net income increased from $41.6 million, or 37 cents per American Depositary share, one year ago to $88.4 million or 77 cents per ADS, beating Wall Street analysts’ expectations of 71 cents per share. … Read the rest
LDK Solar (LDK) In 3 Yr 435 MW Supply Agreement With BP Solar
LDK Solar (LDK) just announced a new 3 year contract with BP Solar Intl. Under terms of the deal LDK will deliver about 435MW of multicrystalline silicon solar wafers from 2009 to 2011.
“We are very pleased to extend our relationship with BP Solar,” stated Mr.Xiaofeng Peng, Chairman and CEO of LDK Solar. “This additional wafer supply contract expands our North American presence and further enhances LDK’s position as a market leader.”… Read the rest
LDK Solar: "2009 Orders Strong, Plenty Of Liquidity"
LDK Solar (LDK) is commenting on its financial position this morning, saying they are in good shape for next year. Usually when a company comes out with a statement to defend its financial position in the face of growing concern you have to be skeptical, so we’ll revisit this statement in 6 months and see just how strong they are in 09.
The company noted that it has secured contracts totaling 1.8GW for 2009 which … Read the rest
Solar Analyst Notes: CSIQ Downgrade, SPWRA Strong Buy, YGE Price Cut, LDK Estimate Cuts
Here are some analyst notes in the solar notes that came out during trading today:
* Piper Jaffray downgraded CSIQ from Buy to Neutral, lowered estimates and cut the price target from 30 to 11 on euro weakness and supply chain dislocation
* Piper Jaffray also cut the price target and lowered estimates on Yingli Green Energy (YGE) but maintained their Buy rating. Price target lowered from $26 to $15
* Piper Jaffray cut estimates … Read the rest
LDK Solar (LDK) Flush With Cash Despite Downturn
LDK Solar announced that it has no need to seek additional money from capital markets to fund the company’s expansion, as it already has enough cash on hand to more than double its production capacity. In 2009, the company plans to expand that capacity to 2.2 GW of power. In 2010, it will expand again, to 3.2 GW. LDK founder and chairman Peng Xiaofeng told a reporter from Reuters News Service that the proceeds from … Read the rest
LDK Solar (LDK) Chooses Diamond Wire Filament Saws For Its New Plant
LDK Solar announced that its new polysilicon plant in Xinyu City, China will operate using Diamond Wire SR200 Filament Saws. These filament saws have a clear advantage over regular blades in that they are capable of cutting up to 100% more filaments, with lower kerf. This results in more efficient use of materials and enables more polysilicon rods to be manufactured from the same amount of raw materials.
Nick Sarno, Senior Vice President of Manufacturing, … Read the rest
Goldman Sachs Solar Calls: Applied Materials (AMAT) Upgraded and Added to Buy List
Goldman Sachs is out this morning with several calls on solar stocks:
Upgrades
* Upgraded Applied Materials (AMAT) from Sell to Buy and added to their Conviction Buy List
* Upgrades Yingli Green Energy (YGE) from Neutral to Buy but cut price target from $20 to $9
* Upgrades Trina Solar (TSL) from Sell to Neutral but cuts price target from $24 to $12
Maintain
* Maintains Buy rating on Suntech Power (STP) but cuts … Read the rest
LDK Solar (LDK) Gets A 7 Year Supply Deal With Helios Technology
LDK Solar (LDK) announced this morning it has inked a 7 year supply deal with Italian based Helios Technology and will provide 70 MW of multicrystalline solar wafers beginning next year and extending through 2015
“As we continue to experience strong demand for our solar wafers, this particular agreement further expands LDK’s presence in Europe and represents the increasing geographic diversity of our customer base,” said CEO Xiafeng Peng.… Read the rest
LDK Solar Gets 3 YR 90MW Supply Deal
LDK Solar (LDK) announced this morning a 3 year contract to supply solar wafers to an unnamed US energy company and will supply 90 MW beginning next year. Financial terms were also not disclosed.
“This contract contributes to our strong backlog and demonstrates the continued demand that we are experiencing in the marketplace for our wafers, we are very encouraged by the emerging growth in the North America Market,” said Mr. Xiaofeng Peng, Chairman and … Read the rest