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.
Showing posts with label MEMC Electronic Materials. Show all posts
Showing posts with label MEMC Electronic Materials. Show all posts
Wednesday, February 15, 2012
Friday, August 5, 2011
Dendreon (DNDN) (WFR) (WLT) (NTSP) (ONNN) (NCIT) Downgraded
Dendreon Co. (NASDAQ: DNDN), MEMC Electronic Materials Inc (NYSE: WFR), Walter Energy (NYSE: WLT), NetSpend (NASDAQ: NTSP), ON Semiconductor (NASDAQ: ONNN) and NCI Inc (NASDAQ: NCIT) downgraded by analysts.
MEMC Electronic Materials Inc. (WFR) was downgraded by Kaufman Brothers from a “Buy” rating to a “Hold” rating. They have a price target of $7.00 on the company, down from $10.00.
Walter Energy (WLT) was downgraded by Keybanc from a “Buy” rating to a “Hold” rating.
NetSpend (NTSP) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
ON Semiconductor (ONNN) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating. They have a price target of $9.00 on the company.
NCI Inc. (NCIT) was downgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Underperform” rating.
Dendreon Co. (DNDN) was downgraded by Collins Stewart from a “Buy” rating to a “Neutral” rating. They have a price target of $19.00 on the company, down from $55.00.
MEMC Electronic Materials Inc. (WFR) was downgraded by Kaufman Brothers from a “Buy” rating to a “Hold” rating. They have a price target of $7.00 on the company, down from $10.00.
Walter Energy (WLT) was downgraded by Keybanc from a “Buy” rating to a “Hold” rating.
NetSpend (NTSP) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
ON Semiconductor (ONNN) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating. They have a price target of $9.00 on the company.
NCI Inc. (NCIT) was downgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Underperform” rating.
Dendreon Co. (DNDN) was downgraded by Collins Stewart from a “Buy” rating to a “Neutral” rating. They have a price target of $19.00 on the company, down from $55.00.
Wednesday, October 13, 2010
Bank of America (NYSE:BAC) Finances SunEdison's Duke Energy (NYSE:DUK) Project
Bank of America (NYSE:BAC) will finance the final stages of the 17.3MW deployment of Duke Energy (NYSE:DUK) in Davidson County, NC, via SunEdison.
SunEdison is a subsidiary of MEMC Electronic Materials (NYSE:WFR).
"Bank of America Merrill Lynch is extremely pleased to help bring utility-scale solar power to our home market of North Carolina and build on our long-standing corporate relationship with MEMC," said Todd Karas, President of Banc of America Public Capital Corp.
The financing will be for the final two phases of the project, which is estimated to generate more than 510 million kilowatt hours of energy over a period of 20 years.
On an annual basis that would power up about 48,000 homes in the U.S.
SunEdison is a subsidiary of MEMC Electronic Materials (NYSE:WFR).
"Bank of America Merrill Lynch is extremely pleased to help bring utility-scale solar power to our home market of North Carolina and build on our long-standing corporate relationship with MEMC," said Todd Karas, President of Banc of America Public Capital Corp.
The financing will be for the final two phases of the project, which is estimated to generate more than 510 million kilowatt hours of energy over a period of 20 years.
On an annual basis that would power up about 48,000 homes in the U.S.
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