Jefferies Cuts Price Target on Solar Powered

FREE Breaking News Alerts from StreetInsider.com!

CSIQ Hot Sheet

Rating Summary:
2 Buy, 7 Hold, 1 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38

Jefferies reports that they believe that a variable feed in tariff for solar based on installed volumes is coming in the near future. The firm is anticipating a 9% cut (+/-3%) will begin in April, assuming there will be a strong 5-6GW German market in 2011. They state that, "weak German solar installs in 2H10 may minimize any immediate impact of FIT policy change, but we conservatively estimate a reduction (and in doing so partially remove a stock/policy overhang) in ASPs." The firm has changed their Q211-Q411 predictions and as a result the firm is lowering their price targets on 10 companies.

Canadian Solar Inc. (NASDAQ: CSIQ) From $20 to $17
First Solar, Inc. (NASDAQ: FSLR) From $160 to $154
JA Solar Holdings Co. (NASDAQ: JASO) From $14 to $11
Solarfun Power Holdings Co. (NASDAQ: SOLF) From $15 to $13
SunPower Corporation (NASDAQ: SPWRA) From $15 from $13
Suntech Power Holdings Co. (NSYE: STP) From $10 to $9
SolarWorld (SWV.GR) From $18.66 to $16
Trina Solar Ltd. (NYSE: TSL) From $40 to $37
MEMC Electronic Materials Inc. (NYSE: WFR) From $11 to $10
Yingli Green Energy Holding Co. (NYSE: YGE) From $20 to $17

Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!