North Coast Solar Stocks

July 6, 2009

Solar stocks face near-term weakness

Filed under: ENER, FSLR, JASO, STP, WFR, YGE — Tags: , , , , , — Jason @ 3:38 pm

Analyst warns of near-term weakness in solar sector, lowers price targets

Monday July 6, 2009, 3:38 pm EDT

NEW YORK (AP) — The solar sector will likely outshine S&P 500 in the long run, but its near-term outlook is less attractive, said an analyst on Monday as he lowered price targets on a number of solar stocks.

Barclays Capital analyst Vishal Shah said solar companies face a number of downside risks, including lower-than-expected shipments, decelerating poly silicon price declines and customer insolvency. He recommended a “selective approach” to buying solar stocks during the second-quarter earnings season, emphasizing discounted stocks such as Yingli Green Energy Holdings Co. (YGE), JA Solar Holdings Co. Ltd. (JASO) and MEMC Electronic Materials Inc. (WFR) Shares of these companies have tumbled in recent weeks. Shah rates all of these stocks “Overweight.”

On Monday shares of solar companies fell across the board. Yingli shares fell $1.59, or 11.5 percent, to $12.27, JA Solar shares dropped 45 cents, or 10.3 percent, to $3.92. MEMC shares slid $1.61, or 9.2 percent, to $15.88.

Shah lowered price targets for Energy Conversion Devices Inc. (ENER), First Solar Inc. (FSLR), Suntech Power Holdings Co. Ltd. (STP) and Yingli.

Shares of Energy Conversion Devices fell $1.14, or 7.6 percent, to $13.92 in afternoon trading. Shares of First Solar, the nation’s largest solar-panel maker, dropped $6.16, or 4 percent, to $148.04. Suntech shares tumbled $1.47, or 8 percent, to $16.90.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: