Are the tides turning for the solar industry? After months of doom and gloom forecasts, downgrades and price target cuts some upgrades and positive notes are beginning to slowly trickle in from analysts. Ah oh, time to sell!
Barron’s reported today that Merrill Lynch came out with a report today saying that improving second derivative trends suggest the industry is headed for a cyclical bottom. They went on to say that while demand won’t recover … Read the rest
Suntech Power (STP) is out this morning releasing preliminary financial results for the 4th quarter in which it expects revenues to exceed previous guidance of 345 – 360 million and come in at 405- 420 million.
As of December 31, 2008, Suntech’s cash and cash equivalents balance was approximately $508 million, which is approximately $113 million higher than the cash and cash equivalents balance at the end of the third quarter of 2008. Cash and … Read the rest
I’m back from vacationing in Troncones, Mexico and looking forward to bringing you the latest in alternative and renewable energy stocks in the coming year! Thanks for all the comments from visitors in the 6 months since this site was launched. . my goal is to continue to push forward and make GreenStocksCentral.com the #1 source for breaking news and tracking of green stocks with an increasing number of analysis coming in 2009.
With that … Read the rest
Suntech Power announced that it has been selected to provide solar power for the World Expo 2010 in Shanghai. According to the bid, Suntech will "supply, design and install building integrated photovoltaic systems with a total capacity of 3MW on the China and Theme Pavilions." Suntech’s solar power installation should be completed by September of next year, and will be China’s largest BIPV solar power system. … Read the rest
Suntech Power (STP) is celebrating the inauguration of Israel’s largest and most efficient solar power station, which it helped to build with local company, Solarit Doral. The 50 KW rooftop farm will produce approximately 85,000 kw hours of clean energy annually.
In other news today, the company has announced a licensing agreement with Open Energy Corp (OTC: OEGY) in which Suntech will manufacture, license, distribute and market Open Energy’s solar roof tile product.
“The … Read the rest
Suntech Power (STP) and a + f (a subsidiary of Spain’s Gildemeister Group) worked together to complete two solar power plants in Spain. STP supplied about half of the modules used to complete the plants in Alange (8.5MW) and Alconera (7.4MW) which will be enough power for around 9K households.
Jerry Stokes, President of Suntech Europe, said, “Suntech’s dedication to producing premium quality, high power output solar products is a key factor leading to our … Read the rest
Here’s a rundown of today’s analyst notes on several solar names according to StreetInsider.com
Downgrades
– Raymond James downgrades Suntech Power (STP) from Strong Buy to Outperform and has price target of $15
– FBR downgrades GT Solar (SOLR) from Outperform to Market Perform
– Credit Suisse downgrades JA Solar (JASO) from Outperform to Neutral
– Wedbush Morgan downgrades SunPower (SPWRA) from Strong Buy to Buy and slashed the price target from $100 to $32. … Read the rest
Goldman Sachs is out this morning with several calls on solar stocks:
Upgrades
* Upgraded Applied Materials (AMAT) from Sell to Buy and added to their Conviction Buy List
* Upgrades Yingli Green Energy (YGE) from Neutral to Buy but cut price target from $20 to $9
* Upgrades Trina Solar (TSL) from Sell to Neutral but cuts price target from $24 to $12
Maintain
* Maintains Buy rating on Suntech Power (STP) but cuts … Read the rest
Soleil Securities has initiated coverage on both Suntech Power (STP) and LDK Solar (LDK) with Buy ratings on both. According to StreetInsider.com, Soleil had this to say on Suntech:
“The prospect of strong earnings growth through ’09 is offset by our expectation of a sharp decline in photovoltaic industry pricing in 2011 which will lead to an equally sharp decline in earnings in 2012.” Their price target is 41.
On LDK Solar:
“While we … Read the rest
Suntech Power (STP), the large China solar company has plans to triple its US business in 2009 in a joint venture with MMA Renewable Ventures forming Gemini Solar Development LLC and plans to target projects greater than 10MW. Suntech has also acquired EI Solutions, a Cali commercial system integration company that will target government, utilities and large commercials customers AND has expanded its US dealer network to increase penetration into residential and smaller commercial projects. … Read the rest