Friday, September 24, 2010

Barclays (NYSE:BCS) Reiterates "Equalweight" on JA Solar (Nasdaq:JASO)

Barclays (NYSE:BCS) reiterated its "Equalweight" on JA Solar Holdings(Nasdaq:JASO), while also raising the price target on the alternative energy stock.

"Checks indicate cell fundamentals could likely remain strong in December (flat cell pricing in December, a good leading indicator for Q1 module demand). Robust cell market fundamentals and relatively strong execution could drive upside to Q3/Q4 fundamentals and street estimates," said Barclays.

Earnings per share for full year 2010 were raised to a range of $1.10 to $1.25, and for full year 2011, from $0.70 to $0.95.

JA Solar closed Thursday at $7.86, dropping $0.03, or 0.38 percent. Barclays' price target was increased from $6 to $8.

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