The big gorilla Goldman Sachs (GS) has finally begun covering the solar sector and initiated coverage of the US solar sector with a Neutral rating and initiated coverage on a few of the largest solar companies too. Hat tip to Street Insider for the heads up on these ratings this morning.
It begins First Solar (FSLR) coverage with a Buy rating and $150 price target. They view the increased exposure to the US utility scale … Read the rest
Sunpower (SPWRA) landed another solar supply deal with the French retailer Casino Group today. Last year, Sunpower signed a 14MW deal with the company and today it signed a 20MW deal which allows Casino group to install additional solar panels on the roof tops of its properties in France. They will use Sunpower’s E19 series solar panels which provide efficiency up to 19%.
====> Click Here For Your FREE Sunpower Technical Analysis
GreenYellow (renewable energy … Read the rest
SunPower (SPWRA) announced it has broken the world record for full scale solar cell efficiency by producing a cell with a sunlight to electricity conversion of 24.2% at its plant in the Phillippines. It’s been confirmed by the DOE. Sunpower has increased efficiency by 4% over the past 5 years
“This new world record demonstrates SunPower’s ability to extend our lead in manufacturing the world’s highest efficiency solar cells,” said Bill Mulligan, vice president of … Read the rest
SunPower announced that it has been chosen by Dow Jones & Company to install a new high-efficiency, 4.1 megawatt solar power system at the Dow Jones’ New Jersey headquarters.
====> Click Here For Your FREE Sunpower Technical Analysis
SunPower will use its SunPower T5 Solar Roof Tile to create a 3.6 installation above the parking lot and a 522-kilowatt rooftop installation.
In a press release, Tom Leyden, managing director at SunPower, commented on the … Read the rest
Several analyst rating notes to make you aware of today. Hat tip to Street Insider for the analyst notes.
Needham & Company has initiated coverage on AONE, HEV and VLNC.
Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target. “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual … Read the rest
Sunpower (SPWRA) announced this morning that it is building a 9.1MW solar power plant in Alange, Badajoz, Spain for the Naturener Group. It’s one of the largest to be built in Spain this year and the 5th that Sunpower has designed and constructed for Naturener. Naturener is using Sunpower’s tracker technology which follows the sun and provides up to 25% more energy than fixed systems. The cheaper, lower efficiency Serengeti solar panels are being used … Read the rest
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
Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
SunPower just announced that they are forming a joint venture with thin-film crystal LCD manufacturer AU Optronics Corp. Per the agreement, the two companies will jointly own and operate the 1.4 gigawatt third solar cell fabrication plant (called Fab 3) that SunPower is in the process of building in Malaysia. By bringing AUO into the joint venture, SunPower plans to reduce costs for the project and have it completed more quickly.
===> Click Here For … Read the rest
Credit Suisse demonstrates once again why analyst estimates and ratings are for the most part worthless. Rarely are analysts ahead of the curve and Credit Suisse is no exception. They are out this morning maintaining their Neutral and Outperform ratings, but cutting price targets well after these stocks have plummeted to new lows. I believe solar stocks are close to bottoming out, based on some minor capitulation moves seen yesterday. Many are ripping higher again … Read the rest