Market Overview

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

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?


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 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

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)

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