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Solar Fundamentals Improving - Analyst

February 22, 2013 12:45 PM EST Send to a Friend
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Price: $63.80 +0.14%

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    11 Buy, 21 Hold, 9 Sell

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    Up: 30 | Down: 17 | New: 37
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Recent check by analysts at Deutsche Bank suggests strong demand in the solar supply chain. In a note today, analyst Vishal Shah said he thinks fundamentals continue to improve.

"Utilization rates at Chinese solar companies are rising, poly/ wafer prices have been increasing and even module prices have bounced off the bottom by 3-5c/W over the past few months," said the analyst.

Shah said policy outlook in solar is also improving.

"We expect favorable legislation in the US (REIT/MLP status) and also see positive government support in China, India and other emerging markets. While some risks around subsidy cuts in Japan and the UK market remain, we expect a more constructive outlook in most other emerging markets," he said.

First Solar (Nasdaq: FLSR) and Trina Solar (NYSE: TSL) report earnings next Tuesday, and Shah said he expects the reports to act as a positive catalyst.

Deutsche Bank has Hold ratings on First Solar, SunPower (Nasdaq: SPWR), and Trina Solar.

For an analyst ratings summary and ratings history on First Solar (Nasdaq: FLSR) click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $34.41 yesterday.

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