SunPower Corporation (Nasdaq:SPWRA) was downgraded by Soleil Securities from "Buy" to "Hold," citing the approximate 40 percent surge of the stock over the last month.
Along with a large number of equities, SunPower's rally wasn't based on increased guidance or outlook.
Soleil said, "There has been little to no change in the outlook for the company's earnings over the next two to four quarters - all of the move in SunPower's shares has been multiple driven."
The company said they were concerned that "SunPower is moving toward a greater reliance over time on the downstream installation portion of the photovoltaic business."
The price target for the energy company was raised slightly from $14 to $15.
SunPower closed the week at $13.94, gaining $0.02, or 0.14 percent.
Showing posts with label Solar Energy. Show all posts
Showing posts with label Solar Energy. Show all posts
Monday, September 27, 2010
Thursday, September 2, 2010
Goldman (NYSE:GS) Continues to Hold Nevada Solar Claims
Goldman Sachs & Co. (NYSE:GS) has come under some criticism for its lack of moving forward with solar development on lands in Nevada it has leased.
The Bureau of Land Management offered leases on a first-come-first-serve basis five years ago, and Goldman snatched up 52 of the 354 applications via two of their subsidiaries.
Cogentrix, one of Goldman's subsidiaries, has applied for "nearly as much federal land as all other companies combined. Its active lease applications cover about 120,000 acres — the equivalent of more than eight Manhattans," according to a report from the AP.
The implication is Goldman is blocking others from solar development, which spokesman Ed Canaday responded to, saying they're learning as they go, and have been starting off on smaller developments in other states, such as a 250-acre project on private land in Colorado.
The Bureau of Land Management offered leases on a first-come-first-serve basis five years ago, and Goldman snatched up 52 of the 354 applications via two of their subsidiaries.
Cogentrix, one of Goldman's subsidiaries, has applied for "nearly as much federal land as all other companies combined. Its active lease applications cover about 120,000 acres — the equivalent of more than eight Manhattans," according to a report from the AP.
The implication is Goldman is blocking others from solar development, which spokesman Ed Canaday responded to, saying they're learning as they go, and have been starting off on smaller developments in other states, such as a 250-acre project on private land in Colorado.
Wednesday, August 25, 2010
Citigroup (NYSE:C) Maintains "Buy" on Trina Solar (NYSE:TSL)
Trina Solar (NYSE:TSL) remains in the good graces of Citigroup (NYSE:C), as the banking giant maintained its "Buy" rating on the company.
Citi also raised its price target on the company from $30 to $36.
Trina continues to be the favorite pick of Citigroup in the solar sector, citing "its strong balance sheet, more measured approach to the systems business, leading cost position, and budding track record for execution.”
Citi said they liked the gross margins of the company, which should continue to be strong, and improve in the second half of 2010, assuming prices remain stable and more cost downs.
The idea they can expand in a larger way and pay for it through operating cash flow is a positive for the company as well, as the overall solar sector has been punished with low margins at a time when demand seems to be growing.
That's the best case scenario, but increasing the outsourcing of wafers/cells, along with the real possibility of supply of poly tightens up, which could put pressure on margins.
Citi also raised its price target on the company from $30 to $36.
Trina continues to be the favorite pick of Citigroup in the solar sector, citing "its strong balance sheet, more measured approach to the systems business, leading cost position, and budding track record for execution.”
Citi said they liked the gross margins of the company, which should continue to be strong, and improve in the second half of 2010, assuming prices remain stable and more cost downs.
The idea they can expand in a larger way and pay for it through operating cash flow is a positive for the company as well, as the overall solar sector has been punished with low margins at a time when demand seems to be growing.
That's the best case scenario, but increasing the outsourcing of wafers/cells, along with the real possibility of supply of poly tightens up, which could put pressure on margins.
Tuesday, August 24, 2010
UBS (NYSE:UBS) Upgrades First Solar (Nasdaq:FSLR) on Sector Growth
UBS (NYSE:UBS) has upgraded First Solar (Nasdaq:FSLR) from "Neutral" to "Buy," citing increasing growth rates in the industry.
The price target of First Solar is a $150. It stands at a little over $126 a share today. Earnings were also lifted for the company, although that will be a bigger challenge than expansion.
Solar energy companies have been pushing their growth out, even though they continue to lose money, hoping scale eventually overcomes the ongoing losses.
Some solar companies have been working on acting like real companies by focusing on lowering operational costs so they can hopefully be profitable in weak or strong economic times.
The price target of First Solar is a $150. It stands at a little over $126 a share today. Earnings were also lifted for the company, although that will be a bigger challenge than expansion.
Solar energy companies have been pushing their growth out, even though they continue to lose money, hoping scale eventually overcomes the ongoing losses.
Some solar companies have been working on acting like real companies by focusing on lowering operational costs so they can hopefully be profitable in weak or strong economic times.
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