Sunpower (SPWRA) kicked off the solar earnings season tonight with a strong quarter, beating analyst estimates by a wide margin and matching the whisper number of .42/share. Revenues also came in better than expected at $466 million vs the estimate of $420 million. That represents a 26% decrease from the year ago quarter on the earnings side and a 24% increase on the revenue side/ The company guided about in line for the full year … Read the rest
Tag Archives: spwra
Green Stocks Upgrade/Downgrades Roundup: CREE, SPWRA, YGE, FSLR, STP
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Sunpower (SPWRA) Gets JMS Buy Rating
Janney Montgomery Scott initiated coverage on SunPower (SPWRA) with a Buy after the bell yesterday with a price target of $45.
Hat tip to StreetInsider.com for the following analyst comment:
“SunPower is a technology leader and has the strongest brand in the solar industry. The Company’s position downstream will allow it to drive sell-through, react quickly to changes in pricing and demand levels, and better manage its variable, balance of system (BOS) costs, associated with … Read the rest
Hapoalim Securities: Gloomy Days Ahead For Most Solar Stocks (FSLR, WFR, STP, SPWRA)
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
Wedbush Morgan Maintains Neutral On Sunpower (SPWRA), Raises Price Target
Wedbush Morgan is out this morning maintaining its Neutral rating on SunPower Corporation (SPWRA), but raising its price target from $25 to $33.
Hat tip to StreetInsider.com for the following analyst comment:
“We expect systems revenue will accelerate in 2010 as larger PV projects move forward. Given the company’s 2010 project pipeline, we expect to see a significant uptick in systems revenue next year. We note that the 250 MW project for PG&E is expected … Read the rest
Sunpower (SPWRA) Building Portion Of Italy’s Largest Solar Plant
Sunpower (SPWRA) has designed and started construction earlier this year of Italy’s largest solar plant, called the Montalto di Casto project, it was announced today. Sunray Renewable Energy is the Italian company working with Sunpower as the developer and owns the project which is being financed, in part, by a consortium of international and Italian banks. This 24MW plant is phase 1 of a larger 100MW project and will feature Sunpower’s Tracker technology which … Read the rest
France’s Casino Group To Use Sunpower (SPWRA) Solar Panels In 14MW Deal
French retailer Casino group will use Sunpower (SPWRA) solar panels to kick start a renewable energy push across its supermarket stores in France and the islands of Mayotte and La Reunion. The retailer will install a total of 14MW of solar panels on rooftops and parking structures beginning later this year using Sunpower’s high efficiency 315 watt and 305 watt panels. Similar systems have been installed at Target, Walmart, Macy’s and Lowe’s here in the … Read the rest
Deutsche Bank: CSIQ Fairly Valued; Credit Suisse: TSL Initiated At Overweight; Masquarie Downgrades Of SPWRA, CSIQ; ZOLT to BUY
A few analyst rating changes are out this morning..
Analyst comment below courtesy of StreetInsider.com.
Deutsche Bank is out this morning maintaining its hold rating on Canadian Solar (CSIQ) but is lowering the price target from $17 to $13. The firm says, “Recent inputs from various solar PV companies and less than hoped for improvement in the demand picture for larger systems (due to financing availability) cause us to reassess our outlook for solar … Read the rest
Jefferies Downgrades Solar Stocks (FSLR, SPWRA, STP, ASTI, CSUN, ENER, ESLR)
I mentioned the upgrades in the post before. Now for the downgrades. Jefferies is out this morning cutting the entire sector and downgrading several solar companies due to the same concerns we’ve heard for many months… oversupply and lack of demand.
First Solar (FSLR) cut to Hold from Buy
SunPower (SPWRA) cut to Hold from Buy
Suntech Power (STP) cut to Underperform from Hold
Ascent Solar (ASTI) cut to Underperform from Hold
China Sunergy (CSUN) … Read the rest
FSLR, SPWRA Get Merriman Buy Ratings; YGE Upgraded By HSBC, APWR Initiated At Outperform
Some positive analyst ratings are out this morning. Here’s the rundown:
Hat tip to StreetInsider.com for the analyst comments.
First Solar (FSLR) gets a Buy rating from Merriman Curhan. The firm says, “First Solar is a leading provider of thin film solar technology primarily serving the power utility market and continues to command cost leadership at $0.87/watt vs. its silicon-base solar peer group at $2.50/watt. Solar is rapidly becoming a critical alternative energy solution … Read the rest