SOL, JASO, ENPH...Roth Capital On Solar: Upgrades JA Solar, ReneSola, Enphase

Solar energy companies shares are rallying on Wednesday following the agreement by Congressional leaders to extend a significant tax credit for the industry. Roth Capital gave BUY ratings for nearly all solar stocks. A Budget Deal For The Solar Industry Congressional Republican leaders have agreed to extend a 30 percent investment tax credit, or ITC, for commercial, utility, and rooftop solar projects from now through 2019. The credit for the budget deal is slated to fall 10 percent in 2017. The Democratic leaders have agreed to the demands to rid of crude oil exports, banning them from the U.S. that had been in place since 1975. The vote by Congressional leaders is expected to be held this week. Roth Capital Analyst Reaction Roth Capital analyst Philip Shen sees the ITC extension as likely to have a positive impact probably on "nearly all solar stocks." According Roth Capital's latest equity research notes on solar released Wednesday, ReneSola Ltd.
, Enphase Energy Inc
, and JA Solar Holdings Co., Ltd.
were among the some of the solar companies that were given BUY ratings by the research firm. The Research Firm Is "Quite Bullish" For Solar If The Deal Is Passed JA Solar Holdings received a price target of $9.18 USD by the research firm. Roth Capital noted that the extension could lead to higher volumes in the U.S. as the company works to expand its presence in the U.S. market (JASO recently hired Robert Petrina, the former Managing Director of Yingli Green Energy Americas). SOL has a target price of $1.70 USD by the research firm. Roth Capital also believes an extension could lead to higher U.S. volumes and opportunities to expand its project business for SOL. Roth Capital has set a target price of $2.41 USD on ENPH, seeing the company as highly exposed to the U.S. residential solar market. =

Posted In: NewsUpgradesAnalyst RatingsTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.