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
Tag Archives: sunpower
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
Wedbush Morgan Not As Optimistic On Sunpower (SPWRA), Downgrades To Neutral
Wedbush Morgan isn’t as optimistic on SunPower (SPWRA) as FBR Capital was this morning. The firm is downgrading SPWRA following earnings from Outperform to Neutral.
Hat tip to StreetInsider.com for the following analyst comment:
“Downgrading shares of SunPower to Neutral from Outperform due to continued industry headwinds and recent share price appreciation. Q2 results beat our revenue estimates by $35.2 million and EPS by $0.03. Company affirms 2009 guidance but provides no support for … Read the rest
FBR Upgrades Sunpower (SPWRA); Oppenheimer Downgrades MEMC Electronics (WFR)
Here are some analysts calls on SPWRA and WFR following last nights earnings reports.
FBR upgraded Sunpower (SPWRA) from Market Perform to Outperform and doubled the price target from $20 to $40. The firm noted that while while earnings were a mixed (beat on revenues, but lower margins), the upgrade is driven by increased business prospects in the rooftop solar market, which SPWRA’s will capitalize on. They expect funding for larger ground mounted systems … Read the rest
SunPower (SPWRA) Smashes Estimates, Up 20% AH
SunPower (SPWRA) has long lagged its solar competitors in stock performance this year and remains submerged below the 50 and 200 day moving averages. Tomorrow, the tide may turn. SunPower just smashed analyst earnings estimates after the bell by reporting an an EPS number of .24/share, beating estimates by .10. Revenues also came in higher than expectations at 298 million. The stock is responding well after hours, soaring about 20%.
Let’s keep it in perspective … Read the rest