Sunny Analyst Comments No Help To Chinese Solar Stocks (CSUN, JKS, LDK, TSL, YGE)
Chinese solar stocks are being afflicted with whatever illness is ailing the broader market today as the Chinese Solar Stocks Index is trading lower by 0.9% despite some positive comments on a pair of Index constituents from Wedbush Morgan.
The research firm initiated coverage of China Sunergy (CSUN) with a “neutral” rating and a $5 price target, implying decent upside from where the shares closed on Tuesday. Wedbush said China Sunergy will benefit from its vertical integration strategy over time and its flexible manufacturing model will allow it to benefit from higher availability of lower cost wafers and cells. Shares of China Sunergy are down 2% today.
Wedbush also initiated coverage of JinkoSolar Holding (JKS), giving that stock an “outperform” rating and $36 price target, well above the stock’s Tuesday closing price of just over $28. Wedbush said Jinko Solar will continue to aggressively boost capacity and increase its brand recognition. Shares of Jinko Solar are down 1%.
Investors can track the Chinese Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Solar Soars Again: Is A Pull Back Looming? (The Market Financial, 5/13/13)
Will Solar Industry’s Overcapacity problems be solved by 2015? (Green World Investor, 5/15/13)
China Sunergy (CSUN) Lands 7MW Solar Module Deal For Solar Roof (Green Stocks Central, 1/6/11)
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