Market Overview

Axiom Reviews JA Solar's Earnings (JASO)

Share:

Axiom Capital Research is out with a research report reviewing JA Solar Holdings Co., Ltd. (ADR) (NASDAQ: JASO) earnings report. It has a $5 price target on shares and has a Sell rating on shares.

In the research note, Axiom writes, "As expected, JASO proved Street ests for 2H10 were grossly understated; yet, with support for solar falling, a structural oversupply imminent, & pricing pressure on the horizon, we see risk to both our forward multiple & EPS ests; While JASO's results were handedly ahead of the Street, given the company's commentary on low single digit sequential ASP appreciation his quarter, high-single digit wafer cost hikes in C4Q10, & limited details on incremental capacity expansion, we believe fears are growing on JASO's ability to balance solar wafer price hikes with incremental increases in solar cell ASPs – while JASO said the solar cell ASPs would be down high-single digits in C1Q11, the company said it expects wafer prices to fall inline with this est, which we believe many investors are questioning."

Shares of JASO lost 33 cents yesterday to close at $9.08.

 

Related Articles (JASO)

View Comments and Join the Discussion!

Posted-In: Axiom Capital ResearchAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
RDS/BScotiaBankInitiates Coverage On34.0
RDS/AScotiaBankInitiates Coverage On34.0
ARNorthland Capital MarketsUpgrades6.9
RDFNDA DavidsonMaintains54.0
RGRAegis CapitalInitiates Coverage On70.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com