Trina Solar and Suntech Power Holdings have taken a combined $11.72 billion in loans from China Development Bank, according to Reuters. Suntech’s agreement with CDB will provide access to $7.33 billion in loans over a 5-year period. Trina Solar now has a loan agreement with CDB worth $4.40 billion that will last through 2015.
Both companies plan to use the loans for expansion.
For example, Trina Chief Financial Officer Terry Wang told Reuters,
“As … Read the rest
Solar analyst Mark Bachman of Auriga USA (formerly of Pacific Crest) initiated coverage of several solar stocks after the bell today. Hat tip to Street Insider for the following analyst comments:
Trina Solar (TSL) initiated at Buy with $34 price target (about 30% above current levels). More TSL analysis here
“We initiate coverage of Trina Solar with a Buy rating as the most under appreciated Chinese solar company we follow. While the stock is up … Read the rest
Trina Solar (TSL) has announced a new solar supply deal this morning. Its subsidiary Changzhou Trina Solar is partnering with Grenzone of Singapore which is a solar integrator working across southeast Asia. Trina will supply solar nearly 10K modules beginning this month for a 2.2MW solar power plant in Thailand which is expected to come online in August.
“We are excited to team up with Grenzone, a well established PV system integrator in Southeast Asia, … Read the rest
The solars are having a decent day today on the back of a Barclays bullish call this morning. According to Street Insider, the firm upgraded Solarfun (SOLF) to Equalweight and doubled the price target which sent the stock surging 10%. They have also raised the price target on several other solar stocks. Here are the calls..
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 … 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
Trina Solar (TSL) is under pressure this morning after announcing last night that it intends to offer 7,900,000 ADS shares for sale with the option for underwriters to purchase an additional 1,185,000 shares. Proceeds will be used to expand manufacturing capacity, R&D and general corporate purposes.
Shares are down about 4% in premarket trading as the stock continues to trade below the 50 day moving average and showing technical deterioration. It looks like it may … Read the rest
According to Street Insider, Piper Jaffray has responded to a negative Barron’s article over the weekend saying that the article is another sign that the negative sentiment on solar stocks has been priced in already and that the sector is poised to rebound with better visibility in the second half of the year. They went on to say that the German feed-in tariff cuts should stimulate growth and reiterated their Overweight ratings on Yingli … Read the rest
Trina Solar (TSL) has announced that its subsidiary, Changzhou Trina Solar, has added another US order. They signed a sales agreement with Essco Wholesale Electric, a Sonepar USA company which continues to push into the solar market. Trina will supply Essco with 25MW of solar PV modules this year with the option for 4MW more. That makes sales of 40MW this year in the US as they continue to push into the US market. … 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
Trina Solar (TSL) has posted strong earnings results this morning, beating analyst estimates by a decent margin. The company posted .74/share on revenues of $313 million. Analysts were looking for only .60/share on revenues of $283 million. The quarter was a big improvement over the year ago period when the company reported just .26/share and also represents a nice bump sequentially. Earnings increased about 15% and revenues 25% over last quarter.
The quarter was … Read the rest