ReneSola (SOL) Higher Into Tomorrow's Earnings Report

ReneSola (NYSE: SOL) is 14% higher this afternoon heading into earnings from the solar company due before the open tomorrow. On average, analysts see EPS of $0.23 and revenues�of $105.9 million.

In Q4, ReneSola reported a nearly 200% increase in revenues. In April, ReneSola raised their 2008 guidance. SOL is up over 100% since the Q4 report.

Analysts are mostly positive on the recent IPO, with 4 of 4 analysts rating the stock a Buy. While the analysts are positive on ReneSola, the average price target is just $19, which is below the current market price of $21.50.�These price targets may have to be raised if the company reports another solid quarter.

With ReneSola up so much since the last report, it will likely take a significant beat to keep the momentum alive.

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