At least two analysts remain bullish on Cree Inc (CREE) following their earnings results last night. Hat tip to Street Insider for the analyst comments.
Piper Jaffray reiterates an Overweight rating and $88 price target. “Although initial investor reaction is one of disappointment that Cree’s Sept ’10 revenue guidance ($270-$280m) was below consensus of $284m, we remain encouraged that its core lighting business will continue double … Read the rest
Piper Jaffray was out with some rating changes/coverage of LED lighting stocks after the bell today. Hat tip to Street Insider for the following analyst comments….
Initiated Cree Inc (CREE) at Overweight with $88 price target. They believe Cree is the leading LED play and that the recent pull back offers an attractive entry point. To that I say it’s up 20% in two weeks.. would have been an attractive entry point at the beginning … Read the rest
UQM Technologies (UQM) reported earnings last night that were in line with the analyst estimate of a .03/share loss on the EPS side, but missed the revenue estimate of $2.39 million (posting $2.28 million). This is a company that continues to struggle, but sees potentially rapid growth next year with the CFO predicting profitability in Q1 2011 with some help from the DOE.
CFO Donald French commented: “During the first quarter of fiscal 2011 we … Read the rest
Piper Jaffray is out with a bullish call as well following the CREE earnings report and is maintaining its Overweight rating and raising the price target from $70 to $88. Hat tip to Street Insider for the following analyst comment:
“LED market remains a compelling growth opportunity. The LED market was roughly $6B in 2008 and we expect it to triple to $18B in 2013 (43% CAGR). Growth rates this high in markets this large … Read the rest
Piper Jaffray is initiating coverage on Tri-Tech Holding (TRIT) this morning with an Overweight rating and a price target of $20 which is about 50% higher than where it is now. “Recent project wins and favorable government policies around municipal wastewater treatment provide very good visibility in 2010 and the company’s recent capital raise provides the financial strength to grow the top-line aggressively through 2011.”
Shares of TRIT are up about 5% in premarket trading. … Read the rest
Piper Jaffray is maintaining a Neutral rating and is raising the price target from $22 to $25. “SPWR provided in line FY10 revenue guidance but PF EPS guidance was below consensus; additionally 1Q10 guidance was much lower due to backend-loaded systems revenue. The stock will likely … Read the rest
Piper Jaffray has initiated coverage on Green Plains Renewable Energy (GPRE) this morning with an Overweight rating and a price target of $19. Hat tip to Street Insider for the following analyst comment:
“We believe this vertically-integrated ethanol producer is poised to deliver significant earnings growth over the next two years through much-improved ethanol production margins and the potential for highly-accretive M&A activity. The company’s recent capital raise strengthens the balance sheet and positions GPRE … Read the rest
According to Street Insider, Piper Jaffray has responded to a negative Barron’s article over the weekend saying that the article is another sign that the negative sentiment on solar stocks has been priced in already and that the sector is poised to rebound with better visibility in the second half of the year. They went on to say that the German feed-in tariff cuts should stimulate growth and reiterated their Overweight ratings on Yingli … Read the rest
Yesterday FBR Research reiterated its Underperform rating on First Solar (FSLR) and this morning Piper Jaffray is holding firm with its own rating of Outperform. The firm has a $127 price target. Hat tip to Street Insider for the following analyst comment:
“Based on strong sector fundamentals, and channel checks with customers, we anticipate an in-line to better 4Q09 given sector strength and sold out conditions. We anticipate reiterated and unchanged 2010 guidance noting FSLR … Read the rest
You knew the downgrades were coming on Echelon (ELON) after yesterday’s very weak guidance and Piper Jaffray is one. The firm is downgrading the stock to Neutral and lowering the price target to $8 from $11. Hat tip to Street Insider for the following analyst comment:
“We downgrade shares of ELON to Underweight following disappointing 2010 guidance, continued lack of revenue visibility, and pushout of profitability. ELON beat on the top and bottom line with … Read the rest
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