According to Barron’s, there are a few analyst calls in the solar space this morning and it’s a bit mixed, but leaning towards the bullish side.
Raymond James
Energy Conversion Devices (ENER) gets a downgrade from Market Perform to Underperform. The firm sees the market for amorphous silicon as bleak and not a viable technology in the long run. Shares are down 6% today but hanging in there above support of the 50 day moving … Read the rest
Suntech Power (STP) first announced it was opening a US solar manufacturing plant back in January and now it’s official. The company announced on Friday that it has begun production at its new plant in Goodyear, Arizona with an initial capacity of 30MW with a plan to expand to 50MW next year and to 120MW within a few years.
==> Click Here For Your FREE Daily Suntech Power Technical Analysis
"Our new U.S. manufacturing … Read the rest
The good news continues to flow from the solar space and this morning is no exception. We had the raised guidance from LDK, CSIQ reiterating its guidance and ASTI announcing an important thin film certification.
Adding fuel to the fire are upgrades out of Collins Stewart and UBS. UBS upgraded LDK Solar (LDK) following its guidance raise from Neutral to Buy and now has a $12 price target on the stock.
==> Click … Read the rest
Canaccord Genuity is out with a few ratings changes in the solar space.
The firm has upgraded JA Solar (JASO) from Hold to Buy and raised the price target nearly 50% to $11. Shares are falling another 3% today despite the upgrade indicating the stock is a bit tired following a torrid run.
==> Click Here For Your FREE Daily JA Solar Technical Analysis
Both Suntech (STP) and Sunpower (SPWRA) were downgraded from Hold to … Read the rest
Wunderlich Securities rates American Superconductor (AMSC) a Buy and has a $50 price target which would represent a nearly 70% move up from current levels. The firm notes that the company has significant cash reserves and no debt. Shares of AMSC continue to remain in basing pattern and are now testing resistance of the 200 day moving average.
==> Click Here For Your FREE Daily American Superconductor Technical Analysis
Wunderlich is also bullish on shares … Read the rest
Auriga is out with a research note on select stocks today and remains generally bullish on the sector. They indicate that industry fundamentals remain strong both in terms of pricing and volume. Q1 volumes are strong and sold out in some cases as pricing remains firm while the 2nd half of 2011 warrants cautious optimism rather than pessimism. Here are notes on some individual names.
Jinko Solar (JKS): Sees upside to current estimates as shipments … Read the rest
There have been a few analyst calls in the past couple days I want to review here, mostly in the solar space.
Upgrades/Bullish
Yesterday, Trina Solar (TSL) was added to Morgan Stanley’s Long Research Tactical Idea list and initiated with a Buy over at Soleil, saying the firm has one of the strongest balance sheets in the industry. The stock moved a bit yesterday on the bullish calls, but really took off today, up another … Read the rest
Barrons interviewed Aaron Chew of Hapoalim Securities and discussed the solar industry. Here are some highlights.
– Highlights the significant incentive cuts across Europe which will slow demand.
– Sees big growth in solar in Italy (23%), US (45%) and China (100%) for next year, but declining or flat growth in key markets such as Germany.
– Tight supply should be begin loosening up
– Sales pricing should decline 18 – 24%
– More difficult … Read the rest
Piper Jaffray initiated coverage on several solar stocks last night and is generally bullish with 9 Overweights and a few Neutral ratings. Most of the price targets are way above the current prices. Here’s the run down…
Overweight:
First Solar (FSLR) with 200 price target.
Renesola (SOL) with 20 price target.
Yingli Green Energy (YGE) 14 PT.
LDK Solar (LDK) 12 PT
SatCon Technology (SATC) 5 PT
Trina Solar (TSL) 35 PT
SunPower (SPWRA) 20 … Read the rest
In recent days, California has proposed legislation that would help kick start smaller scale solar projects (1 – 20MW) using a feed-in-tariff system, but the rates would be set by an open bidding process which would help curb excessive rates for consumers while generating fair returns for the developer. The Renewable Auction Mechanism (RAM) as it’s called is just a proposal at this point, but a final ruling could come within 30 days. It’s likely … Read the rest