Piper Jaffray Boosts Price Target on ReneSola (SOL) To A "Street High" $40/Share After Strong Results
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Piper Jaffray raised its price target on ReneSola Ltd. (NYSE: SOL) from $25 to $40, following another strong earnings report from the company. The firm is reiterating their Buy rating.
Piper analyst Jesse Pichel thinks SOL should now be valued in line with tier one suppliers given its strong execution and ample polysilicon supply. He said, "We believe shares can head substantially higher on greater than expected production for 2008/9 on the heels of another polysilicon supply contract with a Western company. Last, the company has option value in its 3000MT polysilicon plant that should produce a modest 1200MT in 2009 per guidance. We believe this target is reasonable and is more conservative versus certain peers that claim 5000-7000MT of production in 2009 in the
first year of production."
Shares of SOL are up 9% currently to $23.66.
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Comments
We are the Kings of Solar Investment
So you don't like my son's comments on Renesolar? You think it is unfair? What a loser you are! PJ prints US dollars by just sending comments through our allies in the media. It is much faster than building polysilicon plants and making wafers in Jiangxi, China. Let me teach you something. Most people on Wall Street don't have any brain at all. They just follow my son's comments blindly. They are the true followers of Mr. Deng Xiaoping's famous black-cat vs. white-cat adage: the only criterion used to judge the usefulness of a cat is whether the cat actually catches mice, or "makes money." Yes, Renesolar tells the investment community the same aggressive schedule in its new polysilicon plant in Sichuan: SOL's announcement of the polysilicon plant in November of 2007 for 1500 tons, and the target date is early 2009 for production. LDK Solar made its announcement in the summer of 2007 for its new polysilicon plant, and the production for the 1000-ton plant in the second half of 2008. They are very similar in the time frame, But my son tells the world that LDK's plant schedule is "mission impossible", because nobody has ever been able to start producing polysilicon within 3 years. Hence every article in the western press has been citing that LDK's polysilicon plant schedule is highly risky and speculative and the company should not be trusted; LDK Solar's management lacks transparency; they are not doing a good job in communication, etc.----you name it. In short (no pun intended), short LDK Solar like hell and collect money. (The SEC will not do anything to enforce the law against naked shorting a thinly traded stocks, so naked shorts can run as much as we like.) In addition, even the margin of SOL is substantially lower than LDK's, but as soon as Jesse Jr. says he thinks SOL will rise further, the stock goes up like a rocket. LDK goes nowhere. Once again, we need no logic, actually, we are the investment logic. Take it, or you are perished. Even today he tells the world that Renesolar's target is REASONABLE. Yah, right, the statement is exactly contradictory to his comment on LDK Solar, but you have to accept the contradictory statements without any doubt. Why? Like I have said it before: because Jesse Pichel says so. Haven't you seen that LDK has tumbled from $75 to the mid-$30 just because Jesse Jr. says a few totally nonsensical comments? Why are you so stubborn? The investment circle is full of morons who claim to be long-term investors, including most of the mutual fund managers and talking heads on CNBC and FOX Channel. They don't know any better except running around in cocktail parties to exchange rumors and edicts from Jesse Jr. My advice is simple: Forget about what is right or wrong, just follow Jesse Jr. When he says "a deer is a horse", then you must immediately get up and repeat the same with a megaphone.
PJisBullShit
Most people invest in Solar know that PJ is biased and not ethical. It has non consistent criteria to evaluate the peer solar Co.
LDK vs SOL???
Piper Jaffray has lost his credibility by having a $40 target on SOL while at the same time rating LDK as a SELL with a $27 price target. It is not ethical or professional not to treat solar peers in a similar way. Piper's firm has been fined for unfair ratings before --- what does that tell you? Piper's bias against LDK is extreme and uncalled for. The obvious reference to LDK in this poorly written note is a sorry example of how manipulative this unethical 'analyst' is. STAY WAY from HIS BIASED 'RECOMMENDATIONS.'
"Analyst" Pichel
Mr. Pichel, former clerk in Lipton, now trying to be a solar expert, seems to be very incompetent in his ratings. He attacked the margins in LDK, recommends sell, whilst a day later increases the SOL rating, whilst SOL has significantly lower margins, doing the same business. He just uses the clichés like "...We believe,...", "We see....". No wonder as PJ was penalized for naked shorting and other dark matters.
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obviously people up top bought LDK instead of SOL
paul on May 15, 2008 05:59 PMAnd now that they are pissed that LDK drops and SOL is doing well, just look at the PE, one is making money, the other is not, why shouldn't SOL be rated higher?