JA Solar (JASO) will report ahead of the bell tomorrow morning and Piper Jaffray has a preview (courtesy of Street Insider) of earnings which could provide some insight into how well the other China solar companies will do this quarter.
Jesse Pichel of Piper Jaffray recommends traders own JASO shares ahead of earnings. It’s a little late now! They highlight the positives..
– JA Solar has low Euro exposure compared with its Chinese peers. … Read the rest
According to Street Insider, Piper Jaffray’s solar analyst, Jesse Pichel, issued a research note saying that “there were no proposals from the industry or specific demands from the Environmental Ministry of Germany” related to the solar subsidies. Solar stocks didn’t recover at all on this research note and continue to drift to the lows of the day after it was reported by Reuters that Germany would cut solar subsidies by 16 – 17% in … Read the rest
The StreetInsider.com has a great run down of analyst reactions to First Solar’s (FSLR) guidance last night. The company guided higher and announced significant expansion plans over the next two years. The following is reprinted with permission.
Piper Jaffray: “While strong 2010 top-line guidance and newly announced capacity expansion are positives, a substantially higher mix of lower margin systems business is expected to prevent both margin and EPS expansion in 2010. FSLR remains the … Read the rest
Last night JA Solar (JASO) raised guidance and announced a share repurchase program. Piper Jaffray is responding this morning by reiterating their Overweight rating and raising the price target from $6 – $7.
Hat tip to StreetInsider.com for the following analyst comment:
“JASO provided new guidance after the close on December 14 for 4Q09 shipment to be more than 210MW, vs. prior guidance of 170-200MW and our estimate of 185MW, on current customer orders … Read the rest
Piper Jaffray is out reiterating its Overweight rating on American Superconductor (AMSC) this morning with a price target of $45.
Hat tip to StreetInsider.com for the following analyst comment:
“We reiterate our Overweight rating on increased visibility into China wind growth. Using a sum of the parts valuation, we value the AMSC Power Systems business at $44, based on ~34x our CY2010 segment GAAP EPS estimate of $1.30 (from $1.29) a premium with the leading … Read the rest
Last night it was announced that Sunpower was investigating some accounting errors at its Philippine operations and this morning the downgrades are flowing.
Piper Jaffray downgraded from Overweight to Neutral and lowered the price target from $38 to $31.
Hat tip to StreetInsider.com for the analyst comments:
“SPWR announced accounting errors that may have underestimated costs in its Philippine manufacturing plant for both 2009 and 2008. The magnitude of the COGS understatement could be $14M … Read the rest
Piper Jaffray is downgrading GT Solar (SOLR) to Underweight and slashing the price target to $3 following the earnings report.
Hat tip to StreetInsider.com for the following comment:
“While we believe SOLR’s DSS furnace business is well positioned for a coming expansion cycle and possibly a replacement cycle as the company launches its 600KG furnace next year, we have major concerns on SOLR’s polysilicon equipment (CVD) backlog that bring us to downgrade the stock…We … Read the rest
Piper Jaffray is out maintaining its Underweight rating on Hoku Scientific (HOKU) and lowering the price target despite the Tianwei life preserver thrown last night. The firm notes that while the company gains a strong partner and a new lease on life, the deal dilutes existing shareholders and doesn’t complete eliminate the risks. The Piper comment isn’t hurting shares this morning with the stock still up about 60%.… Read the rest
Surprisingly, Credit Suisse is out upgrading Renesola (SOL) from Neutral to Outperform despite a tough quarter for the company. Piper Jaffray is downgrading SOL from Neutral to Underweight and lowering the price target from $6 to $4.50.
Hat tip to StreetInsider for the following analyst comment from Piper:
“We believe Renesola is making the right moves by vertically integrating downstream to cells/modules. Failure to integrate downstream, in our opinion, would result in anemic margin and … Read the rest
Piper Jaffray is upgrading Echelon (ELON) this morning following the big Duke Energy (DUK) contract announced yesterday. The firm is upgrading the company from Underweight to Neutral and is raising the price target from $6 to $10.
Hat tip to StreetInsider.com for the following analyst comment:
Piper analyst says, “Echelon announced a framework agreement with Duke Energy (NYSE: DUK) that includes an initial order for 120,000 smart meters and data concentrators and Ohio; … Read the rest