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
According to StreetInsider.com, Piper Jaffray analyst Jesse Pichel has commented on the solar stocks that are related to the Lehman bankruptcy, saying that Sunpower (SPWR), JA Solar (JASO) and Evergreen Solar (ESLR) are negatively affected with respect to prior convertible bond transactions and stock lending agreements. The firm said it would be prudent to assume the worst.
On JASO: “We estimate JASO would realize ~4% dilution on stock and incur a non-cash write off … Read the rest
The StreetInsider.com is out with comments from Piper Jaffray analyst Jesse Pichel on the Spain solar cap situation saying that the proposed 500 MW cap for 09 is a positive for the group. “While we expect final outcome by early October, we believe Spain will not be as weak as expected in ’09, and that this proposal should help improve investor sentiment around Spain.”
Apparently, Pichel can confirm that the Spain Energy Ministry has sent … Read the rest
Following Suntech’s (STP) better than expected Q2 earnings this morning, Piper Jaffray is bullish according to StreetInsider.com.
The firm said the results were driven by strong shipments and average selling prices, noting that Suntech has secured 900MW of its 09 silicon supply at favorable pricing and has long term supply contracts in place which should help significantly lower costs.
Also mentioned were indications from Suntech that Italian demand in 09 could be as strong … Read the rest
According to StreetInsider.com, Piper Jaffray is reiterating its Buy rating on Yingli Green Energy (YGE) and maintains a price target of $45 on the stock, which would be a triple from current levels.
The firm believes YGE has the lowest processing cost in the industry and the highest poly cost today which levers it to the eventual spot poly price reduction that they see happening in 09. The firm also likes the fact that … Read the rest