Suntech just announced that it has supplied the Town Hall building in Sydney, Australia, with a 48kW rooftop installation. The installation consists of 240 of Suntech’s advanced solar panels featuring Suntech’s new Pluto technology, which improves conversion efficiencies by 12%.
This morning Think Equity has upgraded JA Solar JA Solar (JASO) from Hold to Buy and upgraded Suntech Power (STP) from Sell to Hold. JASO is moving up 2% in premarket trading while STP is down a bit. Get a free trend analysis for JASO and STP.
On the LED front Merriman Curhan Ford is reiterating its Buy rating on Veeco Instruments and raised the price target range about 30% to $54-66. Says Merriman, … Read the rest
Trina Solar and Suntech Power Holdings have taken a combined $11.72 billion in loans from China Development Bank, according to Reuters. Suntech’s agreement with CDB will provide access to $7.33 billion in loans over a 5-year period. Trina Solar now has a loan agreement with CDB worth $4.40 billion that will last through 2015.
Both companies plan to use the loans for expansion.
For example, Trina Chief Financial Officer Terry Wang told Reuters,
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
Suntech just announced that it has completed installing a 1 MW solar system for Harrah’s Rincon Casino in Southern California. The system will supply enough solar energy to meet approximately 1/4 of the casino’s needs, powering 90% of its HVAC system.
In a press release, Steven Chan, Chief Strategy Officer of Suntech, commented on the news:
“Led by the Rincon Band of Luiseno Indians in partnership with … 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
Suntech just announced that its solar panels have been selected to power what will be the biggest solar power plant in Taiwan. The new plant , which will be owned and operated by Taiwan Power Company, will be installed in Young’an, Kaohsiung, Taiwan. Liao Wen Sing, Vice President of Fortune Electric Co, which is developing the project, says that Suntech panels were selected on the basis of superior performance and reliability.
Brigantine Advisors has initiated coverage on Suntech Power (STP) with a Hold rating. Hat tip to Street Insider for the following analyst comment:
“Suntech is the world’s second largest manufacturer of solar modules, with shipments rising 42% Y/Y in 2009 on a Megawatt basis. Solar module pricing fell sharply in 2009, down nearly 40% Y/Y, and we expect will fall about 30% Y/Y in 2010. The company relies on Germany for about 40% of its … Read the rest
Collins Stewart likes the Suntech Power (STP) earnings report as much as I did and is upgrading the stock from Sell to Hold and has a $14 price target on it. Hat tip to Street Insider for the following analyst comment:
The full details of STP’s blow out 4Q09 can be seen in the attached table, but the highlights are that revenues were 13% above our forecast and an EPS of $0.27 triple our $0.09 … Read the rest
Suntech Power (STP) has absolutely crushed analyst estimates this morning reporting an EPS of .27/share (vs estimates of .11/share) on revenues of $583.6 million (vs estimates of $468). That’s a complete 180 from the year ago quarter when the company posted a .27/share loss. Revenues have now improved sequentially three straight quarters.
Some highlights of comments from the CEO:
– highest quarterly shipment volume in history, continues to expand market share – cost cutting measures … Read the rest
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