Suntech Power (STP) is out this morning reporting preliminary results and the company is warning of a big quarterly loss due to the end of its thin film operations and a bad investment Shunda Holdings. The company is expected to report revenues in the range of $620 – $630 million which is above the analyst estimate of $585 million, but traders are likely to focus on that big quarterly loss, at least in the short … Read the rest
Tag Archives: suntech power
Citi on Solar: Buy TSL, Hold YGE, Sell STP
Citi has initiated coverage on a few more solar names, adding Trina Solar (TSL), Yingli Green Energy (YGE) and Suntech Power to its coverage. Hat tip to Street Insider for the analyst commentary.
TSL gets initiated with a Buy rating and price target of $30 which is about 50% higher from current levels. It’s down about 2% today and will face some resistance at the 200 day moving average. “We see solid execution, no need … Read the rest
Hoku Scientific (HOKU) Revises Agreement With Suntech (STP), Announces $28 Million Loan From China Bank
It’s a busy afternoon for Hoku Scientific (HOKU). The company announced a revised agreement with Suntech Power (STP) which excludes Suntech from having to prepay $30 million for future shipments of polysilicon, but potentially allows Hoku to keep the $2 million already paid which will be credited to future shipments. The terms have also been shorted to one year and Hoku isn’t obligated to ship polysilicon until next June.
Huantai Silicon Ditching Suntech (STP) In Favor Of MEMC Electronic Materials For Glory Silicon Joint Venture
Pacific Epoch posted today that Huantai Silicon Science and Technology suspended its cooperation with Suntech Power (STP) in their Glory Silicon joint venture according to the 21st Century Business Herald which cited Huantai President Wang Lubao. Wang said the company plans to form a joint venture with MEMC Electronic Materials (WFR) to manufacture solar cells.
The article wasn’t real clear as to whether the Glory Silicon project was ditched completely, but that appears to be … Read the rest
Needham Updates Solar Stock Ratings (FSLR, SPWRA, SOLF, STP, JASO)
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
Suntech Power (STP) Posts Strong Quarter, Raises Guidance
Suntech Power (STP) reported earnings this morning that were just shy of analyst estimates on the EPS side due to a substantial currency exchange hit on a weakening Euro, but revenues beat analyst estimates and approached the record quarter in Q2 2008. The company posted an EPS of .11/share vs the analyst estimate of .14/share on revenues of $588 million vs the analyst estimate of $560 million. That’s a big jump over the year … Read the rest
Auriga Slashes China Solar Price Targets (CSIQ, JASO, SOLF, TSL, STP); Upgrades First Solar (FSLR) To Buy
A little more than a month ago, Auriga initiated coverage on solar stocks and was generally bullish outside of its Sunpower (SPWRA) Sell rating. This morning, the firm is slashing price targets of some China solar companies, but is bullish in First Solar (FSLR). I don’t really understand the cutting of price estimates right now which are due to Euro exposure. The Euro has been deteriorating for some time now. Granted, Euro weakness has accelerated … Read the rest
Credit Suisse Cuts Price Targets Of Solar Stocks: TSL, FSLR, STP, SPWRA, JASO
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
Solar Stocks See Green In A Sea Red: TSL, SPWRA, CSIQ, YGE, STP
No doubt today’s action was ugly if you were on the long side of the trade and taking a look at the Up & Down Movers at the left tells the story. That’s a might lengthy list of green stocks down with heavy volume today, but there were bright spots provided in some solar stocks.
Despite a day when the overall market was down 4% with heavy volume, eight solar stocks finished in the green … Read the rest
iSuppli Sees Big Growth In German Solar Installations This Year & Next
Street Insider was out with a research note from iSuppli today forecasting big growth in solar leader Germany ahead of the feed-in-tariff reduction in July which will have companies scrambling to complete installations. That’s not too much of a surprise, but the firm also sees significant growth after the tariff reduction, particularly in rooftop solar systems.
They are forecasting 6.6GW of solar installations for 2010 in Germany which is a 70% increase over last year, … Read the rest