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
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
Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in … Read the rest
Janney Montgomery Scott is maintaining its Buy rating on YGE following earnings and raising the price target whopping 50 cents to $18. Hat tip to Street Insider for the following analyst comment:
“Yingli Green Energy reported strong Q4 results (excluding extraordinary items) and gave very bullish 2010 guidance. Given YGE’s ability to achieve its 2009 guidance (despite difficult conditions in the solar market) and the fact that 90% of 2010 shipments are currently under contract, … Read the rest
Yingli Green Energy (YGE) is down about 7% this morning after reporting another big surge in revenues, but missing analyst estimates on the EPS side. The company reported an adjusted non GAAP EPS of .13/share which missed by a penny and is flat over the year ago quarter. Revenues were much better at $370 million, representing a 44% increase over the year ago quarter and well ahead of the $326 million estimate.
Here are … Read the rest
Yingli Green Energy just announced that it will be expanding manufacturing capacity at its Baoding headquarters. The project will involve building PANDA mono-crystalline silicon-based manufacturing lines capable of producing 300 MW per year of mono-crystalline ingots and wafers, cells and modules. The PANDA production lines use technology developed through Project PANDA, Yingli Green Energy’s collaboration with Energy Research Centre of the Netherlands and Amtech Systems, Inc.
To finance the project, Yingli also announced that it … Read the rest
Yingli Green Energy (YGE) has signed a 10MW sales agreement with New Jersey based SunDurance to supply them with PV modules through the 3rd quarter of this year. The company’s have worked together before but this is the largest deal between the two as Yingli works to expand their business in the US.
Managing Director of Yingli Americas Robert Petrina commented: “Our growth strategy in the U.S. is focused heavily on the commercial and utility-scale … 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
GT Solar International (SOLR) announced a $20 million order for its DSS450 solar ingot furnace about a week ago and the CEO commented then that the company was seeing a pickup in demand as China solar manufacturers look to increase capacity.. he wasn’t kidding! This morning the company has announced $200 million in new orders for its industry leading furnace, ancillary equipment and services. The new orders include a $137 million follow on order (which … Read the rest