Barclays on U.S. Clean Tech/Renewables: Solar Tracker - Vendors' Reduced Shipment Guide Underscores Pressure From ASP
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Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Barclays on U.S. Clean Tech and Renewables: Solar Tracker - Vendors' Reduced Shipment Guide Underscores Continued Pressure From ASP
Analyst, Amir Rozwadowski, said, "Solar ASPs continued their downward trajectory this past week with ongoing declines across the entire value chain. At this point, the volatility experienced in late June / July now seems to be in the rearview mirror, as the market moves toward what is expected to be improving 2H demand. While we expect demand in regions such as China, the U.S. and Japan to pick up momentum in 3Q and 4Q, we are not yet convinced that they can offset European demand given reduced 2012 shipment expectations from vendors like Yingli (Nasdaq: YGE), Trina Solar (NYSE: TSL) and JA Solar (Nasdaq: JASO). Thus it is unlikely that ASP declines will reverse just yet. We therefore suggest investors should retain a cautious stance on the industry until further evidence that pricing declines have eased and a potential stabilization emerges."
Other points were: 1) Polysilicon Prices Edge Lower; 2) Wafers Trend Downward; and 3) Module Declines Continue (however, relatively weaker declines could suggest n-t floor in pricing)
Analyst, Amir Rozwadowski, said, "Solar ASPs continued their downward trajectory this past week with ongoing declines across the entire value chain. At this point, the volatility experienced in late June / July now seems to be in the rearview mirror, as the market moves toward what is expected to be improving 2H demand. While we expect demand in regions such as China, the U.S. and Japan to pick up momentum in 3Q and 4Q, we are not yet convinced that they can offset European demand given reduced 2012 shipment expectations from vendors like Yingli (Nasdaq: YGE), Trina Solar (NYSE: TSL) and JA Solar (Nasdaq: JASO). Thus it is unlikely that ASP declines will reverse just yet. We therefore suggest investors should retain a cautious stance on the industry until further evidence that pricing declines have eased and a potential stabilization emerges."
Other points were: 1) Polysilicon Prices Edge Lower; 2) Wafers Trend Downward; and 3) Module Declines Continue (however, relatively weaker declines could suggest n-t floor in pricing)
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