Plenty Of Analyst Chatter On Solar Stocks, Most Of It Negative (TSL, LDK, HSOL, CSIQ, JASO, WFR)
Shares of Trina Solar (TSL) are up 1% after HSBC Securities upgraded the stock to “overweight” from “underweight” while boosting its price target to $30 from $22, implying nearly 50% upside from the where the shares currently trade. The upgrade of Trina Solar was one of the more positive headlines for solar stocks as several other solar names were hit by analyst downgrades, though that doesn’t seem to be weighing on the Solar Stocks Index, which is higher by 1.4%.
Shares of LDK Solar Company (LDK) are lower by 1% after HSBC pared its price target on the stock to $5.60 from $9.80. HSBC says current solar market trends favor low-cost and low-debt names and that while falling prices may help support demand, it will not be enough to absorb excess supply.
Shares of Hanwha SolarOne (HSOL) are plunging 5% after Jefferies downgraded the stock to “hold” from “buy” while trimming its price target to $6 from $8, citing a weakening pricing environment. Canadian Solar (CSIQ) is off 2% after Jefferies downgraded the solar name to “hold” from “buy” while reducing its price target on the stock to $11 from $14.
JA Solar Holdings (JASO) is lower by 6% after also being moved to “hold” from “buy” by Jefferies and seeing its price target reduced to $5 from $7. MEMC Electronic Materials (WFR) is fractionally lower after Jefferies lowered its rating on that stock to “underperform” from “hold” while slashing its price target to $7 from $10, implying the stock still has some downside left in it.
Investors can track the 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)
Every Solar thermal Plant in India is delayed, still the Government wants to award more (Green World Investor, 5/13/13)
Illegal Vote on Solar in North Carolina (Wealth Daily, 5/6/13)
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