Price Target Increase On Solarfun Power Holdings

Jefferies & Company is raising its price target on Solarfun Power Holdings SOLF from $14.00 to $17.00 a share. In its research report, Jefferies & Company writes, "We reiterate our Buy rating and raise our PT to $17 from $14 on higher ASPs in 2011. SOLF Senior Management will attend our Jefferies Solar Symposium on October 13 in Los Angeles, CA." "We raise our 2011 revenue and EPS on higher ASPs. Our MW assumptions are unchanged, as we believe the company will remain capacity constrained through 2011. We believe SOLF has good visibility through 2011 with its branded customers and white label/outsourced customers. In terms of pricing, European brands can pay a premium for white label modules because these customers can command a premium price as European customers and are also aided by a stronger Euro." SOLF shares closed Wednesday at $12.88