Auriga is out this morning with some notes on the solar industry after attending Intersolar in Munich, Germany. The firm believes industry fundamentals remain strong with robust European demand being driven by attractive rates of return on solar projects. They believe that as long as project returns are attractive, and both debt and equity financing remains available, demand for PV projects will continue to surprise versus the bearish outlook.
Here are more notes from the … Read the rest
According to Reuters, demand for solar panels has risen so sharply that industry leader First Solar is unable to keep up. Although First Solar’s business slowed down in the 3rd quarter, it is expected to pick up in the fourth, despite German solar subsidy cuts that are expected to hit July 1.
Reuters quotes First Solar’s Stephan Hansen saying “In 2010 we will not be able to produce enough modules to meet demand.”
Suntech … Read the rest
According to Reuters, Yingli Green Energy is putting off a decision to open a 100MW plant in the US, citing market uncertainty as a key factor. Yingli had previously stated it planned to have the plant up and running by the end of this year.
===> Click Here For Your FREE Yingli Green Energy Analysis
Helena Kimball, head of marketing communications at Yingli, explained the decision further to Reuters:
“We are delaying the decision … Read the rest
Ardour Capital and Auriga weighed in on Yingli Green Energy (YGE) this morning following its earnings report yesterday.
Ardour Capital downgraded from Buy to Hold and cut the price target from $16 to $10.
Auriga maintains its Buy rating, but cut the price target from $18 to $14. They acknowledge the strong quarter and guidance, but remain concerned about the impact of the free falling Euro and have adjusted their estimates to account for a … Read the rest
Yingli Green Energy (YGE) was out with strong earnings results this morning, beating Wall St estimates in the process. The company reported a non GAAP EPS of .23 on revenues of $358.9 million. That beat analyst estimates by .01 and $5 million respectively and represents a 146% revenue increase over the year ago quarter. Gross margins hit a new record at 33.3%.
===> Click Here For Your FREE Yingli Green Energy Analysis
Other highlights:
– … Read the rest
No doubt today’s action was ugly if you were on the long side of the trade and taking a look at the Up & Down Movers at the left tells the story. That’s a might lengthy list of green stocks down with heavy volume today, but there were bright spots provided in some solar stocks.
Despite a day when the overall market was down 4% with heavy volume, eight solar stocks finished in the green … Read the rest
Yingli Green Energy (YGE) has announced it will be providing the solar modules for what will be France’s largest solar plant. Yingli will provide 33MW to developer MAETEL beginning in October and finish up next spring. The solar plant in Curbans, France will be owned by GDF SUEZ Group and produce 43.5 million kw/hours of renewable energy each year.
===> Click Here For Your FREE Yingli Green Energy Analysis
“We are pleased to announce this … 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
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
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