Hapoalim Securities Cautious On Solar Names (FSLR, SPWRA)
Hapoalim Securities is out with a research report this morning, where it takes a look at the price performance of solar stock following strong results and higher guidance.
The analyst said that the stocks have typically sold off in the following weeks as both positives and negatives become worked into the stock price; profit taking then occurs.
They also noted, “Though most of the solar sector has been under pressure following earnings reports over the last week, it is notable that some stocks have held up better than most. As we believe some names have seen support in anticipation of strong earnings reports to come, we believe they are still susceptible to the recent trend of a sell-off following good earnings news. Particularly vulnerable, in our view, are Jinko Solar (NYSE: JKS), Yingli Green Energy (NYSE: YGE), and Trina Solar (NYSE: TSL).”
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