UPDATE: S&P Capital IQ Reiterates Buy Rating, Raises PT on JA Solar Holdings Co. Ltd. on Multiple Positive Factors

In a report published Wednesday, S&P Capital IQ analyst A. Zino reiterated a Buy rating on

, and raised the price target from $14.00 to $17.00. In the report, S&P Capital IQ noted, “We raise our 12-month target price by $3 to $17, reflecting a P/E near comparable solar peers. We increase our '14 earnings per ADS estimate to $0.45 from $0.81 loss and '15's to $1.00 from $0.11. We believe JASO is making good progress with improving its cost structure and balance sheet. We think JASO is benefiting from high exposure to the Asia Pacific region, and we see orders in this region sustaining high levels. We expect JASO to penetrate into new geographic markets, with revenue growth to be supported by planned capacity expansion plans in the cell/module businesses.” JA Solar Holdings Co. Ltd. closed on Tuesday at $12.10.