Tag Archives: Suntech

Suntech (STP) Plans To Triple US Sales This Year

Suntech Power Holdings  just announced that it is trying to triple its US sales this year, from 15 percent of the US market to 20 percent. The company also expects to expand its network of dealers in the US.Although some industry analysts are concerned that subsidy cuts in Germany could cut demand for solar panels, Suntech is optimistic htat lower polysilicon prices and increased demand from the US will balance it out.

In an interview Read the rest

Jefferies Out With Solar Upgrades: SPWRA, STP, SOLF, CSUN

According to StreetInsider.com, Jefferies is out with several solar upgrades following the two week plunge. 

SunPower (SPWRA) upgraded from Hold to Buy, but price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. Shares are up about 3% in premarket trading.

Suntech (STP) upgraded from Underperform to Hold with a $12 target. Shares are basically flat in premarket trading.

Solarfun (SOLF) upgraded from Underperform to Hold with a $7 … Read the rest

Suntech’s (STP) Solar Panels Powering 2 Pavilions At Shanghai World Expo

Suntech just announced that they have hooked up solar power systems to provide energy for two pavilions at the Shanghai World Expo in China. The building-integrated solar systems on the pavilions provide a total power output of 3.12MW. Togther, the pavilions are expected to produce 2.8 million kilowatt hours of electricity, replacing 1,000 tons of coal consumption and 2,500 tons of carbon emissions annually.

In a press release, Dr. Zhengrong Shi, Chairman and CEO of … Read the rest

Suntech (STP) Panels Sell Out

Suntech just announced that it has sold out of its solar panels through the second quarter of 2010. Reuters quotes Steve Chadima, vice president of external affairs at Suntech, explaining the situation:

“We were basically in a sold-out situation in Q4 and we’re in a sold-out situation at least through Q2. We’re basically selling anything we can produce and I know we’re not alone.”

Demand for solar panels is back up from a low point … Read the rest

Analyst Rating Changes: STP, JASO Upgraded Again; BofA Starts ITRI At Buy

The upgrades keep coming in for Suntech Power (STP) and JA Solar (JASO).  Yesterday they were upgraded by Barclays and this morning Thomas Weisel is doing the same, upgrading both from Underweight to Market Weight.  Both stocks are holding yesterday’s breakout moves well despite heavy selling in the overall market today.  While it could be a rocky ride, solar stocks are increasingly showing signs that the bottom is in.

Itron (ITRI), the smart grid behemoth … Read the rest

STP, JASO, SPWRA Upgraded At Barclays, CREE Downgraded

A few analyst rating changes and coverage initiations this morning…

Barclays upgraded Suntech (STP), JA Solar (JASO) and Sunpower (SPWRA) to Overweight.  All three are up about 8% today with STP and JASO breaking out of bases on the upgrade.

Wedbush Morgan isn’t quite as positive on Sunpower, lowering the price target from $29 to $21, but maintains its Neutral rating.  Hat tip to StreetInsider.com for the following analyst comment:

“We believe investors do not … Read the rest

Suntech (STP) & Trina Solar (TSL) Smash Earnings Estimates, Trading Higher

Two pillars of the China solar industry, Trina Solar (TSL) and Suntech Power (STP) smashed the low expectations of analyst estimates this morning.

TSL reported a Q3 EPS of $1.29, versus the analyst estimate of $0.75. Revenue for the quarter was $249.7 million, much greater than the analyst estimate of $216.30 million.  Shares are trading higher again this morning, up about 4%.

Suntech (STP) reported  Q3 EPS of $0.16, 9 cents better than the analyst … Read the rest

Suntech (STP) Is Building Manufacturing Plant In Arizona

Suntech just announced that they will be building a PV module manufacturing plant in the vicinity of Phoenix, Arizona. Once complete, the plant will have a 30 MW capacity. The plant should start production in late 2010, and will help Suntech provide better service to its US customers. It will also make Suntech’s production process more environmentally friendly, as it will reduce the carbon dioxide emitted from shipping product overseas to the US.

In a … Read the rest

Suntech (STP) Begins Building 50MW Solar Power Plant In Jiangsu

Suntech just announced that it has begun construction on its 50 MW solar plant in Jiangsu, China. Suntech is working with Huadian New Energy Development Company to build the plant.  The company will design the plant and install 37,000 of its own PV solar panels. Suntech will also own a minority stake in the plant once it is built.

The first, 10MW phase of the plant could be in operation later this year. … Read the rest

Suntech (STP) Snags 115 MW Deal With EnXco

Suntech just announced the closure of a 115 MW deal with EnXco, a unit of EDF Energies Nouvelles. The solar modules will be delivered next year 2010), and the partnership may be expanded in the future.

EnXco is expected to use the modules in installations in the US and Canada. In a press release SunTech’s chief strategic officer Steven Chan explained that “continuously leading solar innovations and delivering the most cost effective solutions are key … Read the rest