Chinese Solar Stocks Bounce on New Wafer Venture (CSIQ, LDK, JASO, STP, YGE, TSL, JKS)

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CHINESE SOLAR INVESTING IDEAS

• Popular long ideas: STP, LDK, JASO
• Popular short ideas: JASO, STP, LDK
• Top dividend plays: None
• Pro favorites: STP, HSOL, CSIQ

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CHINESE SOLAR COVERAGE

Chinese companies focused on Solar energy generation and technology

• LDK's New Contract Lifts Stock (LDK, SOLR, SOL, JKS, JASO, TSL)
• Brigantine Comments Boost A Pair Of Chinese Solar Stocks (TSL, YGE, HSOL, SOL, CSUN, LDK, STP)
• Views Are Too Pessimistic On Solar Market, LDK President Says (LDK, SOL, JASO, STP, TSL, YGE)

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CHINESE SOLAR METRICS

Avg. Market Cap:	$195.0M
Avg. P/E Ratio:	0.0
Avg. Div Yield:	0.0%

Shares of Canadian Solar (CSIQ), the Canadian solar firm that mainly operates in China, are soaring 4% after the company announced it formed a joint venture to build a 600 megawatt wafer facility in eastern China with a division of GCL-Poly Energy holdings. The total cost for the first phase of the project will be $77 million and the majority will be financed through debt, while the rest will be financed through registered capital, Reuters reported, citing the company.

Investors seem to like the news as the Chinese Solar Stocks Index is surging 4%. The Index has tumbled almost 15% in the past month.

Canadian Solar said its wafer plant will help it reach two gigawatts of internal solar capacity by the first quarter of next year. Even with that news, Canadian Solar is not the top performer in the Index today. That honor belongs to LDK Solar Company (LDK), which is surging 8%, despite seeing its price target cut to $15 from $21 by Needham. The research firm believes short-term liquidity concerns are overblown and said the risk/reward on the stock is now favorable. Needham reiterated a “buy” rating on LDK.

JA Solar Holdings (JASO), Suntech Power Holdings Co (STP) and Yingli Green Energy Hldng (YGE) are all higher by 6% while Trina Solar (TSL) and JinkoSolar Holding (JKS) are up 4%.

Investors can track the Chinese Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.

Tags: CSIQ, JASO, JKS, LDK, STP, TSL, YGE