Android app on Google Play

UPDATE: Raymond James Upgrades Power-One (PWER) to Strong Buy

February 19, 2013 6:31 AM EST Send to a Friend
Get Alerts PWER Hot Sheet
Price: $6.34 --0%

Rating Summary:
    8 Buy, 8 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
Trade PWER Now!
Join SI Premium – FREE
(Updated - February 19, 2013 9:01 AM EST)

Raymond James' Pavel Molchanov upgraded Power-One (NASDAQ: PWER) from Outperform to Strong Buy with a price target of $6.00, calling it the "Stock That the Solar Rally Forgot."

The analyst notes that while the WilderHill Clean Energy Index is up 14% YTD amid a momentum-fueled solar rally - with the solar ETF soaring 28% - PWER shares are up by one penny over the past six weeks.

Molchanov notes that while Power-One is not the "sexiest" or highest-beta way to play solar "we look at it as arguably the highest-quality public company in the space."

"The cell/module arena remains hyper-commoditized, and while competitive dynamics in the inverter market are tough as well, Power-One is well positioned to weather these pressures given its pristine balance sheet, strong bankability, and expanding product range," the analyst states. "We expect the stock to play catch-up once the flight to quality begins to materialize, and today we are upgrading it from Outperform to Strong Buy."

Prior to this upgrade, the firm has not had any Strong Buy-rated clean tech stocks for over a year.

For an analyst ratings summary and ratings history on Power-One click here. For more ratings news on Power-One click here.

Shares of Power-One closed at $4.12 yesterday.




You May Also Be Interested In


Related Categories

Hot Upgrades, Upgrades

Related Entities

Raymond James

Add Your Comment