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: Solar Energy
Ways to Play the Obama Green New Deal
With the Obama administration just weeks away from move in day, there are quite a few articles out there being written about ways to play the coming infrastructure and green energy boom. Much has been made of Obama’s plan to decrease our dependence on foreign oil and to a lesser degree, plans to spend big on infrastructure. Certainly infrastructure and green energy will be two big themes over the next 4 years and possibly beyond, … Read the rest
MEMC Electronics (WFR) Gets Downgrade, Lowers Sales Outlook
Not a good day for MEMC Electronics (WFR) today. It didn’t start out well with Collins Stewart downgrading the stock from Buy to Hold on falling polysilicon prices which resulted in reducing Q4 08 and 1H 09 projections to reflect the falling prices. The stock closed down today nearly 13% to a new multi year low.
For good measure the company is out after the bell downgrading itself, cutting Q4 sales guidance from $540 – … Read the rest
Energy Conversion Devices (ENER) Beats On Earnings
Energy Conversion Devices (ENER) reported a strong quarter this morning, beating analyst EPS estimates by .03/share on on revenues of 95.8 million, more than double from the year ago quarter. Analyst had expected revenues to be just a touch higher at 95.9 million.
The company sees 2Q revenues of 100 – 108 million, compared to estimates of 103.6 and for fiscal 09 sees revenue of 455 – 485 million compared to analyst estimates of … Read the rest
SunPower (SPWRA) Lowers Profit Guidance Due to Rising Dollar, Off 20%
Sunpower (SPWRA) is off about 20% this morning after reducing its 4Q and 2009 earnings forecast due to currency fluctuations. The company indicated that due to changes in its global tax planning it has greater exposure to the euro which has been hit hard over the last couple months and will hit the company with a $17 million revenue loss in 4Q… Read the rest
Credit Suisse Lowers Price Targets For Several Major Solar Stocks (JASO, SOL, STP)
24/7WallStreet.com notes that Credit Suisse has lowered price targets on several major solar stocks. Apparently, with the economic downturn, shares just aren’t selling for as much as the used to, and the price targets were adjusted to reflect the new economic reality. According to the article, they may be starting a trend, as we can expect other brokerage firms to start taking similar actions. Here’s a quick rundown of the affected companies:
… Read the restJA Solar Holdings
First Solar (FSLR) Analyst Ratings: Buy, Buy, Buy
Following last nights earnings report and news of a big supply deal, the analysts are out with their ratings this morning:
According to StreetInsider.com..
Gabelli Issues Buy rating and raised 08 estimates. “We are increasing our ’08, ’09, and ’10 EPS estimates to $4.00, $8.00, and $11.25, respectively, from $3.60, $6.50, and $10.15. 3Q EPS of $1.20 were well ahead of our expectation of $1.05, and consensus of $1.02. On the conference … Read the rest
MEMC Electronics (WFR) Reports Better Than Expected Revenue, Sees Strong Solar Demand
MEMC Electronics (WFR) is up about 5% in after hours trading following a decent earnings report in which the company posted better than expected revenue numbers and minus a one time charge related to Lehman bonds, posted earnings in line with estimates at .88/share.
The company did however guide lower for next quarter and sees revenue of 540 – 600 million, which is below the consensus of 608 million. It’s blaming the lowered guidance on … Read the rest
Against the Grain Gabelli Issues a Sunpower (SPWRA) Buy Rating!
I posted earlier about all the negativity surrounding the solar sector, but according to StreetInsider.com Gabelli is going out on a limb and issuing a buy rating and a $90 price target on Sunpower (SPWRA) saying “..centered on technology leadership, SPWRA produces the highest efficiency commercially available solar modules allowing the company to command a premium in the market, the high efficiency leads to a smaller footprint which makes SunPower the preferred choice for … Read the rest
Analysts Continue Negative Outlook On Solar Energy Sector
Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest