APWR Is Leveraged To Chinese Wind Market
Analysts at Raymond James maintain their "outperform" rating on A-Power Energy Generation Systems (NASDAQ: APWR). The target price for APWR has been raised from $18 to $20.
A-Power Energy Generation Systems has entered into a joint venture with Shenyang Power Group for a wind energy project in the US. This deal is impressive, as APWR has entered into this high profile venture despite it being in the early stages of commercializing turbines, the analysts say.
A-Power Energy Generation Systems is leveraged to the significant growth potential of the Chinese wind market, which is the largest in the world. APWR will continue to benefit from the mounting energy consumption in China, an overworked grid and increased focus on energy efficiency, Raymond James says. The pending acquisition of EVATECH will help the company to enter into the solar energy space.
