Canaccord Genuity Morning Coffee on Suntech Power (STP) & First Solar (FSLR): A Glimpse of Light
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Price: $0.53 --0%
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Suntech Power (NYSE: STP) and
First Solar (Nasdaq: FSLR): A glimpse of light.
Solar stocks were soaring Wednesday, on signs that prices for solar energy components were stabilizing. Reuters noted that most solar stocks had plummeted more than 60% last year as prices for the panels that turn sunlight into electricity fell sharply, cutting profit margins for the companies that manufacture them. On Wednesday investors were getting excited again as figures showing a dramatic rise in new solar installations in Germany in the fourth quarter and higher prices on the industry's key raw material, polysilicon were released. An analyst at Deutsche Bank commenting on the rally said that the solar industry's surprisingly strong fourth quarter in Germany and robust demand in Italy and the United States could benefit the struggling sector in the near term. "Our checks indicate that inventory levels across the supply chain are now at record low levels and we believe record December month shipments (in Germany) is likely to create a sense of rush among installers" in the first half, the analyst said. Adding that solar panel demand in China and India this year could also top industry expectations, while the U.S. solar installers may seek to buy panels from Chinese manufacturers ahead of a possible import duties.
Other Stocks of Note: LDK Solar (NYSE: LDK), Yingli (NYSE: YGE), Trina Solar (NYSE: TSL), ReneSola (NYSE: SOL), Jinko (NYSE: JKS), JA Solar (Nasdaq JASO), and SunPower (Nasdaq: SPWR)
All of the solar stocks are down between 2-5% today, giving back some of yesterday's gains
First Solar (Nasdaq: FSLR): A glimpse of light.
Solar stocks were soaring Wednesday, on signs that prices for solar energy components were stabilizing. Reuters noted that most solar stocks had plummeted more than 60% last year as prices for the panels that turn sunlight into electricity fell sharply, cutting profit margins for the companies that manufacture them. On Wednesday investors were getting excited again as figures showing a dramatic rise in new solar installations in Germany in the fourth quarter and higher prices on the industry's key raw material, polysilicon were released. An analyst at Deutsche Bank commenting on the rally said that the solar industry's surprisingly strong fourth quarter in Germany and robust demand in Italy and the United States could benefit the struggling sector in the near term. "Our checks indicate that inventory levels across the supply chain are now at record low levels and we believe record December month shipments (in Germany) is likely to create a sense of rush among installers" in the first half, the analyst said. Adding that solar panel demand in China and India this year could also top industry expectations, while the U.S. solar installers may seek to buy panels from Chinese manufacturers ahead of a possible import duties.
Other Stocks of Note: LDK Solar (NYSE: LDK), Yingli (NYSE: YGE), Trina Solar (NYSE: TSL), ReneSola (NYSE: SOL), Jinko (NYSE: JKS), JA Solar (Nasdaq JASO), and SunPower (Nasdaq: SPWR)
All of the solar stocks are down between 2-5% today, giving back some of yesterday's gains
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