Even though GT Solar International Inc. (NASDAQ: SOLR) has been getting positive press and outlooks, it isn't enough to overcome the overall negative pressures on the overall solar sector, as demand continues to dry up and price competition pressures margins.
That didn't stop Brean Murray analysts from raising its price target on GT Solar from $15.00 to $18.00, while having a "Buy" rating on the company.
Wunderlich Securities Inc. also said in a note that GT Solar is “the most profitable public equipment company,” which they believe makes them "a great acquisition target," according to analyst Theodore O’Neill.
O'Neill also has a "Buy" rating on the solar company.
GT Solar Chief Executive Officer Thomas Gutierrez said on an analyst call, “We expect to further diversify our product portfolio in the areas of monocrystalline silicon, other crystal growth technologies and consumables.”
That is expected to generate revenue for the company some time in 2013.
As for the solar industry, pressure is primarily coming from the major market of Europe, where Germany, Italy, Spain and France are cutting back on incentives in the sector.
GT Solar was trading at $11.58, falling $0.42, or 3.49 percent, as of 2:08 PM EDT.
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