The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … Read the rest
This morning an analyst at Wedbush has initiated coverage of several China solar stocks according to Street Insider.
They are the most bullish on Trina Solar (TSL) with an Outperform and $25 price target.
CSIQ, SOLF and YGE get Neutral ratings with price targets of $22, $7 and $11 respectively.
It has some concerns about Suntech (STP) so has an Underperform rating and $10 price target.
“Chinese module manufacturers have been gaining global market … Read the rest
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Solarfun just announced that its PV modules have been selected by EnBW Energie Baden-Wurttemberg AG for a new 5.5 MW solar park in Baden-Wuerttemberg, Germany. The solar park, which is expected to be connected to the grid and producing power by June of this year, will be built on a former dump site and will power 1,970 homes.
In a press release, Peter Xie, President of … Read the rest
Solarfun Power (SOLF) reported Q4 results about inline with expectations. The company reported an EPS of $0.25 which was one cent better than analyst estimates. Revenue for the quarter was $183.5 million, which compares to the estimate of $184.55 million. The results were very similar to what most of the China solar companies are reporting.. big improvements over the year ago quarter and significant sequential improvement. There is one difference with SOLF in that … Read the rest
Solarfun just announced the release its new Eclipse product line. The new line of solar PV cells and modules features reduced light induced degradation, so they generate more electricity compared to standard cells. For example, by reducing light induced degradation down to 1% from the standard 2-3%, the electricity generated is increased by 1% to 2% over a one-, five-, 10-, and 25- year period.
In a press release, Peter Xie, President of Solarfun, … Read the rest
According to StreetInsider.com, Jefferies is out with several solar upgrades following the two week plunge.
SunPower (SPWRA) upgraded from Hold to Buy, but price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. Shares are up about 3% in premarket trading.
Suntech (STP) upgraded from Underperform to Hold with a $12 target. Shares are basically flat in premarket trading.
Solarfun (SOLF) upgraded from Underperform to Hold with a $7 … Read the rest
Solarfun Power (SOLF) is surging 4% in premarket trading after announcing it has (had) won three contracts to supply a total of 12.65 MW in PV modules for projects in China, most of which is for a project in Xuzhou City. The 10MW for this project were already delivered last quarter and the additional 2.65MW is for a government funded project in Anhui Province which are expected to be delivered sometime this year … Read the rest
I’ll keep this post short because the details are well.. detailed and aren’t worth repeating here. You can get all the financial details in a post here. In a nutshell, Solarfun (SOLF) owed Hoku Scientific (HOKU) millions in payments for supplying them with solar modules that they were behind on and put their agreement in jeopardy. It’s being announced this morning that Solarfun just paid $8 of the $13 million owed and will being … Read the rest
Solarfun Power (SOLF) has announced its subsidiary Jiangsu Linyang Solarfun has signed an agreement with the government of Jiayuguan City under which Solarfun agreed to build a 100MW solar power plant. To support this project, Solarfun agreed to construct a module production facility in Jiayuguan City.
Jingchang Zhang, Vice Mayor of Jiayuguan City, commented, “Jiayuguan is a famous tourist attraction in western China. Its abundant sunshine makes it an attractive location for solar projects. We … Read the rest
Solarfun Power (SOLF) got back in the black in a big way, reporting a Q3 EPS of $0.37 this morning, smashing analyst estimates of just .14/share. Revenues were down over the year ago quarter but continue to improve sequentially at $144 million.
The company reported better diversity in the quarter with the new Czech solar market contributing 8% of shipments, but the company is still concentrated in Germany with 60% of its shipments there. That’s … Read the rest