JA Solar (JASO), American Electric Power (AEP), Tidewater Inc. (TDW), Shaw Group (SHAW), Annaly Capital Management, Inc. (NLY) and Associated Banc-Corp (ASBC) had ratings and price targets on them adjusted by analysts.
Credit Suisse initiated coverage on JA Solar (JASO). They placed a "Neutral" rating on the company.
RBC Capital upgraded American Electric Power (AEP) from an "Underperform" rating to a "Sector Perform" rating.
Morgan Stanley initiated coverage on Tidewater Inc. (TDW). They placed an "Overweight" rating on the company.
Capital One upgraded Shaw Group (SHAW). They placed a "Neutral" rating on the company.
Sterne Agee downgraded Annaly Capital Management, Inc. (NLY) from a "Neutral" rating to a "Underperform" rating.
Morgan Stanley downgraded Associated Banc-Corp (ASBC) from an "Equal Weight" rating to a "Underweight" rating.
Showing posts with label JA Solar Holdings. Show all posts
Showing posts with label JA Solar Holdings. Show all posts
Thursday, March 22, 2012
Wednesday, February 15, 2012
LDK (LDK) (FSLR) (WFR) (SPWR) (STP) (JASO) (YGE) (TSL) Under Pressure
Solar companies LDK (NYSE:LDK), First Solar (NASDAQ:FSLR), MEMC Electronic Materials (NYSE:WFR), SunPower (NASDAQ:SPWR), Suntech (NYSE:STP), JA Solar (NASDAQ:JASO), Yingli (NYSE:YGE) and Trina Solar(NYSE:TSL) were under pressure today on news Germany’s feed-in-tariff will probably be cut even more than expected, which would hit the industry even harder than it has been from prior cuts there.
Germany, along with Italy, is among the largest consumers of solar power in the world.
According to Citigroup (NYSE:C) analyst Timothy Arcuri, cuts in subsidies for April could be much worse than the consensus 10 percent to 20 percent cuts being looked for by the street. He sees cuts beginning at 20 percent and being as high as 35 percent for April, 2012.
Arcuri sees all solar companies being hit hard if his projections are accurate. Even if they aren't as high as he sees, it is expected they will be higher than originally estimated, and will put downward pressure on the industry even more than it has been.
Vishal Shah, an analyst for Deutsche Bank (NYSE:DB) sees an April subsidy cut from Germany of 15 percent, with a additional monthly cuts of 2 percent afterwards. Shah said there will also likely be a subsidy cap on solar as the EU economy remains weakened.
JinkoSolar was downgraded by Auriga from a "Hold" rating to a "Sell" rating Tuesday, while Trina and Yingli were both downgraded by Auriga from "Hold" to "Sell" as well.
We should see a number of downgrades in the solar sector as the data is analysed.
Germany, along with Italy, is among the largest consumers of solar power in the world.
According to Citigroup (NYSE:C) analyst Timothy Arcuri, cuts in subsidies for April could be much worse than the consensus 10 percent to 20 percent cuts being looked for by the street. He sees cuts beginning at 20 percent and being as high as 35 percent for April, 2012.
Arcuri sees all solar companies being hit hard if his projections are accurate. Even if they aren't as high as he sees, it is expected they will be higher than originally estimated, and will put downward pressure on the industry even more than it has been.
Vishal Shah, an analyst for Deutsche Bank (NYSE:DB) sees an April subsidy cut from Germany of 15 percent, with a additional monthly cuts of 2 percent afterwards. Shah said there will also likely be a subsidy cap on solar as the EU economy remains weakened.
JinkoSolar was downgraded by Auriga from a "Hold" rating to a "Sell" rating Tuesday, while Trina and Yingli were both downgraded by Auriga from "Hold" to "Sell" as well.
We should see a number of downgrades in the solar sector as the data is analysed.
Friday, January 13, 2012
JA Solar (JASO) (LNT) (D) (ECA) (ED) (EXC) Ratings, Price Targets
JA Solar (NASDAQ: JASO), Alliant Energy (NYSE: LNT), Dominion Resources, Inc. (NYSE: D), EnCana Co. (NYSE: ECA), Consolidated Edison, Inc. (NYSE: ED) and Exelon Co. (NYSE: EXC) ratings and price targets.
JA Solar (JASO) was downgraded by Raymond James (NYSE:RJF) from a “Market Perform” rating to an “Underperform” rating.
Alliant Energy (LNT) was downgraded by Robert W. Baird from an “Outperform” rating to a “Neutral” rating. They have a price target of $28.00 on the company.
Dominion Resources, Inc. (D) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating.
EnCana Co. (ECA) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.
Consolidated Edison, Inc. (ED) was downgraded by JPMorgan Chase & Co. from a “Neutral” rating to an “Underweight” rating.
Deere & Company (DE) had its price target raised by Jefferies Group (NYSE:JEF) to $83.00. They have a “Hold” rating on the company.
Exelon Co. (EXC) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
JA Solar (JASO) was downgraded by Raymond James (NYSE:RJF) from a “Market Perform” rating to an “Underperform” rating.
Alliant Energy (LNT) was downgraded by Robert W. Baird from an “Outperform” rating to a “Neutral” rating. They have a price target of $28.00 on the company.
Dominion Resources, Inc. (D) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating.
EnCana Co. (ECA) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.
Consolidated Edison, Inc. (ED) was downgraded by JPMorgan Chase & Co. from a “Neutral” rating to an “Underweight” rating.
Deere & Company (DE) had its price target raised by Jefferies Group (NYSE:JEF) to $83.00. They have a “Hold” rating on the company.
Exelon Co. (EXC) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
Wednesday, November 10, 2010
JA Solar Holdings (Nasdaq:JASO) Adds Several More Supply Agreements
JA Solar Holdings (Nasdaq:JASO) added several more supply agreements, implying their recent strong third-quarter results have some sustainability to them.
Dr. Peng Fang, CEO of JA Solar, said, “Business momentum continues to be strong, with robust demand from existing and new customers across multiple geographies. Visibility of customer demand remains high and major client indications give us increased confidence in the prospect for 2011.”
Revenue for the quarter came in at $541 million, generating earnings of 47 cents a share.
Guidance for shipments was increased 1.35 gigawatts to 1.45 gigawatts.
Supply deals with multiple customers will go beyond 1.2 gigawatts in 2011, and prepayments have already come in for the agreements.
Dr. Peng Fang, CEO of JA Solar, said, “Business momentum continues to be strong, with robust demand from existing and new customers across multiple geographies. Visibility of customer demand remains high and major client indications give us increased confidence in the prospect for 2011.”
Revenue for the quarter came in at $541 million, generating earnings of 47 cents a share.
Guidance for shipments was increased 1.35 gigawatts to 1.45 gigawatts.
Supply deals with multiple customers will go beyond 1.2 gigawatts in 2011, and prepayments have already come in for the agreements.
Wednesday, October 27, 2010
JA Solar Holdings (Nasdaq:JASO) May Deliver 440 MW in Fourth Quarter
With JA Solar Holdings (Nasdaq:JASO) reporting delivery of 410 MW for the third quarter, Auriga says they their assumption of 44 MW shipment in the fourth quarter remains in play.
"JA Solar announced Q3 shipments of 410 MW prior to the market opening on Tuesday morning. Our previous model reflected prior guidance of 375 MW, thus we are increasing our estimate for the current quarter. Our model already assumed 440 MW of shipments in Q4; therefore, we see no reason to change our out-quarter estimates. In 2011, our model assumes over 1.8GW of shipments, which substantially exceeds the current run-rate established in Q3; there are no changes to our 2011 model," said Auriga.
"We continue to believe that gross margin will be the likely surprise in the quarter, as the consensus estimates are looking for just 21.2%. Cell pricing has been particularly strong in Q3, and we are modeling a 3% sequential increase to $1.34/W. That said, wafer prices have also been increasing, which will increase input costs and, in turn, will serve as an offset in COGS. We believe gross margin could reach 23% in Q3, and our new $0.38 EPS estimate remains above the consensus. Investors should expect to see a meaningful increase in gross margin dollars, although the gross margin percentage could show a small sequential decline."
Auriga is a little too optimistic concerning the overall solar industry in our opinion, as almost everything depend on the subsidized German market, which is scaling back subsidies, although will artificially grow in the short term.
JA Solar closed Monday at $8.64, gaining $0.19, or 2.25 percent. Auriga as a price target of $8 on them.
"JA Solar announced Q3 shipments of 410 MW prior to the market opening on Tuesday morning. Our previous model reflected prior guidance of 375 MW, thus we are increasing our estimate for the current quarter. Our model already assumed 440 MW of shipments in Q4; therefore, we see no reason to change our out-quarter estimates. In 2011, our model assumes over 1.8GW of shipments, which substantially exceeds the current run-rate established in Q3; there are no changes to our 2011 model," said Auriga.
"We continue to believe that gross margin will be the likely surprise in the quarter, as the consensus estimates are looking for just 21.2%. Cell pricing has been particularly strong in Q3, and we are modeling a 3% sequential increase to $1.34/W. That said, wafer prices have also been increasing, which will increase input costs and, in turn, will serve as an offset in COGS. We believe gross margin could reach 23% in Q3, and our new $0.38 EPS estimate remains above the consensus. Investors should expect to see a meaningful increase in gross margin dollars, although the gross margin percentage could show a small sequential decline."
Auriga is a little too optimistic concerning the overall solar industry in our opinion, as almost everything depend on the subsidized German market, which is scaling back subsidies, although will artificially grow in the short term.
JA Solar closed Monday at $8.64, gaining $0.19, or 2.25 percent. Auriga as a price target of $8 on them.
Tuesday, October 5, 2010
JA Solar (Nasdaq:JASO) Upgraded by Canaccord Genuity, Sunpower (Nasdaq:SPWRA) and Suntech (NYSE:STP) Downgraded
The solar industry has been all over the place recently, and solar companies like JA Solar (Nasdaq:JASO), which was upgraded by Canaccord Genuity, and Sunpower (Nasdaq:SPWRA) and Suntech Power (NYSE:STP), which were downgraded, and been all over the place as well.
It'll be surprising if the unpredictable solar energy stocks keep the upward momentum, as there isn't a lot of reasons for them to do so, as while there is some increasing demand in some countries, the margins remain under pressure.
Here's what Canaccord said about select solar stocks:
"Specifically, we are upgrading JA Solar to a BUY rating from Hold, recommending that investors overweight this name relative to other solar stocks."
"Concurrently, we are downgrading both Suntech to a SELL rating from Hold and SunPower to a SELL rating from a Hold, recommending that investors underweight these names as we believe these companies will underperform the general solar universe."
"We maintain our Buy ratings on Canadian Solar (NASDAQ:CSIQ) Solarfun (NASDAQ:SOLF) and Hold rating on First Solar (NASDAQ:FSLR)."
The price target on JA Solar was raised from $7 to $11, on Sunpower it was slashed from $30 to $11, and on STP from $9 to $7.
It'll be surprising if the unpredictable solar energy stocks keep the upward momentum, as there isn't a lot of reasons for them to do so, as while there is some increasing demand in some countries, the margins remain under pressure.
Here's what Canaccord said about select solar stocks:
"Specifically, we are upgrading JA Solar to a BUY rating from Hold, recommending that investors overweight this name relative to other solar stocks."
"Concurrently, we are downgrading both Suntech to a SELL rating from Hold and SunPower to a SELL rating from a Hold, recommending that investors underweight these names as we believe these companies will underperform the general solar universe."
"We maintain our Buy ratings on Canadian Solar (NASDAQ:CSIQ) Solarfun (NASDAQ:SOLF) and Hold rating on First Solar (NASDAQ:FSLR)."
The price target on JA Solar was raised from $7 to $11, on Sunpower it was slashed from $30 to $11, and on STP from $9 to $7.
Monday, October 4, 2010
JA Solar (Nasdaq:JASO) Downgraded by Auriga
Citing valuation, Auriga downgraded JA Solar (Nasdaq:JASO) from "Buy" to "Hold."
There has been a mixed response from a number of analysts over the solar industry, as there is a growing demand for the product, but the margins have been under pressure, and valuations coming in at pretty high levels.
"With shares of JASO trading meaningfully above our price target, we find it judicious to downgrade our rating to Hold. Long-term investors may still find further upside to the shares as we assign a below-average P/E of just 8x, given JASO's lack of vertical integration within the solar supply chain, while short-term investors should find the current price level attractive to recognize profits. We recognize that industry fundamentals remain strong, and that JASO will likely print Q3 results ahead of consensus estimates, however; our price target uses our 2011 EPS estimate, which we are unable to meaningfully raise at this time," said Auriga.
Earnings season will help establish whether or not this is really a sustainable bull run in the solar sector. If margins are able to hold as revenue climbs, it'll be a good sign for the industry and investors.
Some believe the valuations of many of the solar companies are high, and there isn't a lot of room to move up, as in the case of JA Solar.
JA closed Friday at $8.68, dropping $0.65, or 6.97 percent. Auriga has a price target of $8 on the firm.
There has been a mixed response from a number of analysts over the solar industry, as there is a growing demand for the product, but the margins have been under pressure, and valuations coming in at pretty high levels.
"With shares of JASO trading meaningfully above our price target, we find it judicious to downgrade our rating to Hold. Long-term investors may still find further upside to the shares as we assign a below-average P/E of just 8x, given JASO's lack of vertical integration within the solar supply chain, while short-term investors should find the current price level attractive to recognize profits. We recognize that industry fundamentals remain strong, and that JASO will likely print Q3 results ahead of consensus estimates, however; our price target uses our 2011 EPS estimate, which we are unable to meaningfully raise at this time," said Auriga.
Earnings season will help establish whether or not this is really a sustainable bull run in the solar sector. If margins are able to hold as revenue climbs, it'll be a good sign for the industry and investors.
Some believe the valuations of many of the solar companies are high, and there isn't a lot of room to move up, as in the case of JA Solar.
JA closed Friday at $8.68, dropping $0.65, or 6.97 percent. Auriga has a price target of $8 on the firm.
Friday, October 1, 2010
First Solar (Nasdaq:FSLR), Trina Solar (NYSE:TSL), Suntech (NYSE:STP),
Jefferies has given the solar industry a lot of love, raising the price
targets on First Solar (Nasdaq:FSLR), Trina Solar (NYSE:TSL), Suntech (NYSE:STP), JA Solar (Nasdaq:JASO), Yingli Green Energy (NYSE:YGE), Solarfun Power Holdings (Nasdaq:SOLF) and SunPower Corporation(Nasdaq:SPWRA).
The bump up in price targets for all the companies came from a trip the recently took in Asia and Europe, where they based the upwardly revised share prices on higher ASPs for every company.
First Solar's price target was raised from $142 to $160; JA Solar from $10 to $14, a 40 percent increase; Solarfun from $14 to $17, with a "Buy" maintained; SunPower from $13 to $15, reiterating a "Hold" on them; Suntech was raised from $10 to $11, maintaining a "Hold" on the company; Trina Solar was upped from $38 to $42, retaining a "Buy" rating; and Yingli Green Energy was increased from $17 to $20, also having a "Buy" maintained on the company.
Some analysts have questioned some companies in the sector, based on valuations and the sustainability of growth in some regions of the world; one of them being Germany.
targets on First Solar (Nasdaq:FSLR), Trina Solar (NYSE:TSL), Suntech (NYSE:STP), JA Solar (Nasdaq:JASO), Yingli Green Energy (NYSE:YGE), Solarfun Power Holdings (Nasdaq:SOLF) and SunPower Corporation(Nasdaq:SPWRA).
The bump up in price targets for all the companies came from a trip the recently took in Asia and Europe, where they based the upwardly revised share prices on higher ASPs for every company.
First Solar's price target was raised from $142 to $160; JA Solar from $10 to $14, a 40 percent increase; Solarfun from $14 to $17, with a "Buy" maintained; SunPower from $13 to $15, reiterating a "Hold" on them; Suntech was raised from $10 to $11, maintaining a "Hold" on the company; Trina Solar was upped from $38 to $42, retaining a "Buy" rating; and Yingli Green Energy was increased from $17 to $20, also having a "Buy" maintained on the company.
Some analysts have questioned some companies in the sector, based on valuations and the sustainability of growth in some regions of the world; one of them being Germany.
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.
"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.
Wednesday, September 8, 2010
JA Solar (Nasdaq:JASO) Soars on New Agreements
JA Solar Holdings Co. (Nasdaq:JASO) announced today it had signed a number of new agreements to supply over 500 megawatts of solar cells to their customers. Delivery is scheduled for 2011.
CEO Peng Fang said in a statement, “We are pleased to have secured these new supply contracts for next year delivery, which further improves our 2011 visibility and reflects our continued leadership in supplying high-quality solar products to the industry.”
Fang added there is there is "very strong demand" for the China-based company's products.
Option traders jumped on the news, with bulls preferring the September $7.50 strike and the October $7.00 strike. But almost every major strike in September, October and November had buyers, although in smaller lots.
JA Solar was up to $7.14, gaining $0.66, or 10.19 percent, as of 12:51 PM EDT.
CEO Peng Fang said in a statement, “We are pleased to have secured these new supply contracts for next year delivery, which further improves our 2011 visibility and reflects our continued leadership in supplying high-quality solar products to the industry.”
Fang added there is there is "very strong demand" for the China-based company's products.
Option traders jumped on the news, with bulls preferring the September $7.50 strike and the October $7.00 strike. But almost every major strike in September, October and November had buyers, although in smaller lots.
JA Solar was up to $7.14, gaining $0.66, or 10.19 percent, as of 12:51 PM EDT.
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