Needham & Company has come out with updates on their ratings of several solar stocks. Hat tip to Street Insider for the analyst comments:
Initiated coverage on First Solar (FSLR) with an Underperform and $92 price target.
“As the world’s largest producer of solar panels with the best cost structure, First Solar is benefiting from strong near-term demand and a growing pipeline of utility scale solar projects. However, we are concerned that margins will deteriorate … Read the rest
Solarfun just announced the introduction of its new “SolarIris” line of building-integrated photovoltaic cells. SolarIris PV modules come with artistic patterns and designs and can even be used for windows and skylights, making them a more attractive choice for architects and homeowners concerned with aesthetics. They have also successfully passed more than 2,000 hours of high-temperature and high-humidity testing.
===> Click Here For Your FREE Solarfun Analysis
In a press release, Peter Xie, President … Read the rest
Solarfun (SOLF) reported what has probably been one of the most impressive solar earnings reports this earnings season. Not only did the company properly hedge to avoid currency exchange losses, but they reported record revenues and smashed analyst estimates. No wonder the stock was up nearly 20% at one point today.
===> Click Here For Your FREE Solarfun Analysis
The non GAAP EPS of .40 was more than double what analysts expected (.19). Revenues beat … Read the rest
A little more than a month ago, Auriga initiated coverage on solar stocks and was generally bullish outside of its Sunpower (SPWRA) Sell rating. This morning, the firm is slashing price targets of some China solar companies, but is bullish in First Solar (FSLR). I don’t really understand the cutting of price estimates right now which are due to Euro exposure. The Euro has been deteriorating for some time now. Granted, Euro weakness has accelerated … Read the rest
Solarfun has just announced that it will increase its module capacity to 900Mw by August of this year in order to keep up with increased demand from customers. As part of this effort, the company also announced that it has purchased a 25MW cell production line from Semiconductor Manufacturing International Corporation. The purchase, along with Solarfun’s own previously announced expansion efforts, will increase its capacity to over 500MW by July.
In a press release, Peter … Read the rest
Last night I posted the Well Fargo analyst notes on STP, TSL & SOL as the firm initiated coverage of the sector. This morning I have a few more notes for SOLF, YGE & CSIQ courtesy of Street Insider.
Wells Fargo initiates coverage of Solarfun (SOLF) with an Outperform and valuation range of $10-$12.50. They believe that SOLF has been unappreciated in the past and that with a new management team and improving cost … Read the rest
I mentioned the Oppenheimer upgrade of Suntech Power (STP) this morning on Green Stocks @Twitter, but the firm has rating and price target updates on other solar stocks as well. Hat tip to Street Insider for the heads up.
Bullish on Yingli Green Energy (YGE) and gets upgrade from Outperform to Perform and $17 price target (about 30% higher). Want more YGE analysis?
Downgrades Canadian Solar (CSIQ) from Outperform to Perform and lowered and … Read the rest
Solar analyst Mark Bachman of Auriga USA (formerly of Pacific Crest) initiated coverage of several solar stocks after the bell today. Hat tip to Street Insider for the following analyst comments:
Trina Solar (TSL) initiated at Buy with $34 price target (about 30% above current levels). More TSL analysis here
“We initiate coverage of Trina Solar with a Buy rating as the most under appreciated Chinese solar company we follow. While the stock is up … Read the rest
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