Deutsche Bank Starts JinkoSolar Holding (JKS) at Hold, One of Best Chinese Positioned Solar Companies
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Price: $16.62 -0.78%
Rating Summary:
11 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
11 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Deutsche Bank initiates coverage on shares of JinkoSolar Holding Co. (NYSE: JKS) with a Hold rating and $10 price target.
Although earnings power visibility remains unclear in 2012, the firm believes that JKS is one of the best positioned Chinese solar companies going into 2012. The company's strong balance sheet, compared to other Chinese tier 1 suppliers, will help drive the JKS's attractiveness to investors.
The company has historically traded at a 5-10 percent discount to other tier 1 suppliers and does not have much exposure to North American and Asian growth markets.
For 2012, Deutshce forecasts EPS of $2.00-$3.00 on its base case and a loss of $1.00 on a bear case.
An analyst at Deutsche comments, "Cumulative opex and interest expense per W is lower compared to tier 1 Chinese in our view. Moreover, we believe superior non-silicon cost structure, zero reliance on long term poly contracts and relatively strong balance sheet should allow the company to expand capacity much faster than tier 1 peers and hence gain more share in 2012."
For more ratings news on JinkoSolar Holding Co. click here and for the rating history of JinkoSolar Holding Co. click here.
Shares of JinkoSolar Holding Co. closed at $9.82 yesterday.
Although earnings power visibility remains unclear in 2012, the firm believes that JKS is one of the best positioned Chinese solar companies going into 2012. The company's strong balance sheet, compared to other Chinese tier 1 suppliers, will help drive the JKS's attractiveness to investors.
The company has historically traded at a 5-10 percent discount to other tier 1 suppliers and does not have much exposure to North American and Asian growth markets.
For 2012, Deutshce forecasts EPS of $2.00-$3.00 on its base case and a loss of $1.00 on a bear case.
An analyst at Deutsche comments, "Cumulative opex and interest expense per W is lower compared to tier 1 Chinese in our view. Moreover, we believe superior non-silicon cost structure, zero reliance on long term poly contracts and relatively strong balance sheet should allow the company to expand capacity much faster than tier 1 peers and hence gain more share in 2012."
For more ratings news on JinkoSolar Holding Co. click here and for the rating history of JinkoSolar Holding Co. click here.
Shares of JinkoSolar Holding Co. closed at $9.82 yesterday.
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