MEMC Electronic Materials (WFR) has announced that Wells Fargo (WFC) will invest up to $120 million in SunEdison (subsidiary of WFR) solar projects. This isn’t the first time the companies have worked together. Wells Fargo invested more than $200 million in 2007 for 150 SunEdison solar projects across eight states.
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"Wells Fargo is excited to continue our relationship with SunEdison and expand our commitment to grow … Read the rest
I just posted about Trina Solar’s (TSL) strong earnings report and wanted to give a run down on some analyst reactions. The consensus is generally bullish with a hint of caution.
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Hapoalim Securities maintains Hold but raised the price target from $27 to $30. The firm sees the company as a leader in solar manufacturing.
Wells Fargo maintains Hold rating but raised the valuation range … Read the rest
Here is a briefing of today’s green stocks ratings via Benzinga
Oppenheimer maintained a Perform rating on EnerNOC (ENOC) after the earnings report came in higher than the firms estimates. However, the firm lowered its 2011 estimate from $.91 to $.79. Shares plummeted after the company issued weak guidance, but held key support around the $25 level today.
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Wells Fargo maintained its Market Perform… Read the rest
Wells Fargo initiated coverage on JA Solar (JASO) with a Market Perform rating and price target of $7 – 8. While the firm says fundamentals remain strong and shares inexpensive, they aren’t willing to rate the company an Outperform due to weaker demand/greater supply picture going forward.
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Shares of JASO continue to look very bullish, but a bit overstretched in the short term. I’d … Read the rest
Needham & Company is reiterating its Buy rating on Comverge (COMV) and price target of $14 after the company reported earnings last night. Hat tip to Street Insider for the analyst comments.
“We continue to view Comverge’s momentum in US residential (along with its improving presence in C&I) as vital to maintaining its position among the elite in the evolving demand response space. Further, we hold a positive view of the company’s growing turnkey … Read the rest
Last night I posted the Well Fargo analyst notes on STP, TSL & SOL as the firm initiated coverage of the sector. This morning I have a few more notes for SOLF, YGE & CSIQ courtesy of Street Insider.
Wells Fargo initiates coverage of Solarfun (SOLF) with an Outperform and valuation range of $10-$12.50. They believe that SOLF has been unappreciated in the past and that with a new management team and improving cost … Read the rest
Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
FPL Group (FPL), the largest producer of solar and wind power in the US, got a Wells Fargo upgrade today from Market Perform to Outperform. Hat tip to StreetInsider.com for the following analyst comment:
“We believe shares deserve a premium valuation given a comparatively strong EPS growth and credit profile and below average earnings variability due to lower commodity price sensitivity…We project 5-year annual EPS growth of 7-8% (off a 2008 ongoing EPS base of … Read the rest
The news of the Wells Fargo/Sunpower financing deal after the bell yesterday is great news for Sunpower and the industry in general. This is the kind of deal that can truly get solar power moving in the right direction.. and quickly. Private financing is key. Wells Fargo has now provided more than $1.75 billion in financing for alternative energy projects in the last three years and is looking to provide more.
“We see increasing opportunities … Read the rest