North Coast Solar Stocks

December 8, 2009

JASO, STP Upgraded By Weisel To Market Weight

Filed under: JASO, STP — Tags: , , , , — Jason @ 11:36 am

By Eric Savitz

Thomas Weisel Partners analyst Jeff Osborne today raised his ratings on both JA Solar (JASO) and Suntech Power (STP) to Market Weight from Underweight, “to reflect improving market conditions in the global solar market” and stabilizing pricing trends among both cell and module producers.

“After a collapse of nearly 50% in pricing from late 2008 to now, we are finally seeing the bottom for the solar sector,” he writes. “Credit availability is increasing and spreads are narrowing, leading to greater demand.” He notes that there are uncertainties on the government subsidy front, with possible FIT reductions in Germany early next year and Italy later in the year, but that ASPs and gross margins nonetheless are starting to stabilize.

He raised his price targets to $4 from $3 on JASO and to $14 from $12 on STP.

In today’s trading:

* JASO is down 9 cents, or 1.8%, to $4.86.
* STP is down 4 cents, or 0.2%, to $17.01.

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