Brigantine Comments Boost A Pair Of Chinese Solar Stocks (TSL, YGE, HSOL, SOL, CSUN, LDK, STP)
Shares of Chinese solar firm Trina Solar (TSL) are up 4% thanks to some positive comments from Brigantine, which initiated coverage of the stock today. The move in Trina Solar is helping the Chinese Solar Stocks Index soar to a 5.1% gain on the day.
Brigantine initiated coverage of Trina with a “buy” rating and a $35 price target, which implies roughly 75% upside from where the shares currently trade. The research firm notes that Trina is among the fastest-growing solar module makers in the world and that falling raw materials prices should help the company to significantly reduce costs.
Shares of Yingli Green Energy Hldng (YGE) are also up 4% as Brigantine started coverage of the stock with a “hold” rating, saying they expect polysilicon spot market prices to fall significantly in the second half of this year. The research firm says that while it expects solar market conditions will improve in the second half of this year, Yingli Green’s performance will merely be inline with its peers.
Looking at other Index members, Hanwha SolarOne (HSOL) and ReneSola (SOL) are both surging 13% while China Sunergy (CSUN) is higher by 11%. LDK Solar Company (LDK) is up 4% while Suntech Power Holdings Co (STP) is down fractionally.
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?)
Will Solar Industry’s Overcapacity problems be solved by 2015? (Green World Investor, 5/15/13)
Solar Soars Again: Is A Pull Back Looming? (The Market Financial, 5/13/13)
Every Solar thermal Plant in India is delayed, still the Government wants to award more (Green World Investor, 5/13/13)
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