There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Yingli Green Energy just announced a cooperation and supply agreement with SiC Processing AG to recycle its silicon manufacturing waste. Under the agreement, SiC, which has a processing facility inside Yingli’s Baoding plant, will double its capacity to be able to handle Yingli’s exhausted siicon cutting slurries, from 15,000 tons to 30,000 tons. The expansion will be completed by next year, and SiC will supply the recycled silicon components exclusively to Yingli until 2020.
In … Read the rest
Yingli Green Energy just announced that they will be providing CTP, a Czech commercial property developer, with 5 MW of solar PV modules. Under the terms of the letter of intent, signed by both companies, CTP is expected to purchase the modules from Yingli in the fourth quarter of this year.
In a company press release, representatives from both companies commented on the deal:
“We believe Yingli is a value-added partner with its leading position … Read the rest
Yingli Green Energy (YGE) has posted better than expected results ahead of the bell this morning. The company is back to profitable on a non GAAP basis, reporting .14/share vs the estimates for .04/share. Revenues also topped expectations at $219.5 million vs the Wall St estimate of $213.5 million. That’s about in line with the quarter over quarter revenue decrease of last quarter, but sequentially the revenues are much better, which is a trend … Read the rest
According to Pacific Epoch, Yingli Green Energy (YGE) has broken ground on a new RMB 6 billion (a bit less than $1 billion) industry park that will house a 800MW per year crystalline solar project with a completion date set for Dec of next year. It will more than double the company’s yearly output to 1400MW and generate potential sales of more than $2 billion per year.
YGE is currently trading down about 8% … Read the rest
With all the news of China’s government ramping up support for renewable energy, Jim Cramer now likes the China solar plays, particularly Suntech (STP) and Yingli Green Energy (YGE). When I first saw the call, I couldn’t help but think “here we go again, Cramer’s late to the party and recommending solars after a massive run”. However, he did express concern over pricing, inventory and oil prices which he said could weigh on the … Read the rest
Yingli Green Energy just made some announcements about its company plans for the China market. First, Yingli has formed a strategic alliance with Guangdong Nuclear Power Holding Co. The companies will work together to find opportunities for on-grid solar projects, both in China and in other countries.
Yingli also announced the creation of two new joint ventures, Hainan Yingli and Hainan Green Islands Power Company Limited. Hainan Yingli is a joint venture between Yingli Green … Read the rest
The Chinese government just announced it will offer significant new subsidies to solar power manufacturers. According to Reuters, the government will cover 50 percent of investments for solar power projects and necessary power transmission and distribution projects. There are some qualifications for companies to receive the subsidy: The projects must generate at least 300 KW at peak power, must be maintained for 20 years and must be completed in a year. PV systems installed in … Read the rest
According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the … Read the rest
Solar stocks were slammed today as oil prices continued to retreat and the cautious comments out of Barclays didn’t help either. Barrons reported this morning that analyst Vishal Shah is cautious on solar heading into Q2 earnings because of the magnitude of the recent rally and the unlikelihood of US & China demand picking up the Germany slack.
He made price cuts as well:
– ENER from $13 to $17 on customer financing
– FSLR … Read the rest