Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest
Suntech Power (STP) issued preliminary Q1 results this morning and sees revenues in the range of $580 – $590 vs the Street estimate of $542 million. Gross margin estimates remain about the same at about 19 – 20%.
The company expects a hit on the Euro plunge of about $23 million give or take a couple mill and plan to hedge more this quarter to cover Euro exposure.
I mentioned the Oppenheimer upgrade of Suntech Power (STP) this morning on Green Stocks @Twitter, but the firm has rating and price target updates on other solar stocks as well. Hat tip to Street Insider for the heads up.
Bullish on Yingli Green Energy (YGE) and gets upgrade from Outperform to Perform and $17 price target (about 30% higher). Want more YGE analysis?
Downgrades Canadian Solar (CSIQ) from Outperform to Perform and lowered and … Read the rest
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
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
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
China solar stocks have been crushed over the past month, but today are green on a day when the market is down significantly. This is the kind of relative strength that indicates that perhaps they have reached a turning point. I think it’s too soon to call a bottom in the China solar stocks, but this is a good start. The relative strength certainly isn’t without a catalyst .. Deutsche came out with a bullish … Read the rest
Barcays is out with a few solar downgrades this morning..
Suntech Power (STP) gets downgraded from Overweight to Equalweight with a new price target of $12 from $16 Yingli Green Energy (YGE) downgraded from Overweight to Equalweight and price target slashed to $11 from $19 LDK Solar (LDK) downgraded from Equalweight to Underweight and price target halved to $4 from $8 Evergreen Solar (ESLR) downgraded from Equalweight to Underweight with the price target now under … Read the rest
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