Market Overview

With Solar Stocks In Focus, Here's What Wall Street Is Thinking

Share:
With Solar Stocks In Focus, Here's What Wall Street Is Thinking

The market's main solar players -- SunPower Corporation (NASDAQ: SPWR), Canadian Solar Inc. (NASDAQ: CSIQ), Trina Solar Limited (NYSE: TSL), Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) and JinkoSolar Holding Co., Ltd. (NYSE: JKS) -- have rewarded investors of late after a subpar 2014.

The Market Vectors Solar Energy ETF (NYSEARCA:KWT) is up nearly 5 percent over the past two weeks.

What's Wall Street Thinking?

Related Topic: With 3D Printing Stocks In Focus, What's Wall Street Thinking?

SunPower

Analysts seem quite bullish on SunPower.

Since the end of the third quarter, the stock received positive ratings from four major Wall Street research firms, and a couple were accompanied by price targets well above the stock's current price.

  • Morgan Stanley: Overweight                    
  • JP Morgan: Overweight, $40 price target           
  • Canaccord Genuity: Buy    
  • Raymond James: Outperform, $35 price target 

The stock currently trades around $26.43.

Related Topic: SunPower, Sunverge Unveil '15 Solar, Battery Storage Offerings in US, Australia

Canadian Solar

Canadian Solar also received a boost of confidence from analysts in the fourth quarter. JP Morgan reiterated its Overweight rating twice during this period, although its price target was cut from $41 in October to $36 in November.

Still, this implies an upside potential of more than 50 percent from the stock's current price, which is just shy of $24 per share.

Standpoint Research, which initiated coverage about a month ago, holds a Buy rating and a $36 price target.

Trina Solar

Wall Street does not seem particularly interested in Trina Solar.

The company received no ratings over the fourth quarter, and only one (a Neutral from Goldman Sachs) in the third quarter. Goldman Sachs did, however, set a price target of $12.30 -- well above Trina's current trading range near $8.60.

Yingli Green Energy

Similar to Trina Solar is the case of Yingli Green Energy. The company saw no analyst activity in the entire second half of 2014, even in spite of the recent news that the company will power Europe's largest solar plant. The stock was last rated by Deutsche Bank in early June.

JinkoSolar

JinkoSolar isn’t very popular either. It was last rated by Barclays in April with an Overweight and a $51 price target. The stock's price stood around $29 at that time.

Shares now trade near $19.00.

Image credit: Public Domain

Latest Ratings for SPWR

DateFirmActionFromTo
Feb 2020DowngradesOutperformMarket Perform
Feb 2020Initiates Coverage OnNeutral
Jun 2019DowngradesOutperformMarket Perform

View More Analyst Ratings for SPWR
View the Latest Analyst Ratings

Posted-In: Barclays Canaccord Genuity Deutsche BankAnalyst Color Long Ideas Analyst Ratings Movers Trading Ideas Best of Benzinga

 

Related Articles (CSIQ + JKS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ARDSRoth CapitalInitiates Coverage On18.0
PTCBairdAssumes
MNPRBrookline CapitalInitiates Coverage On42.0
HCKTCraig-HallumUpgrades
HNPDaiwa CapitalDowngrades
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
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