Another firm, Stanford, gets bullish on the solar sector and sees red-hot returns on two solar stocks:
Evergreen Solar (ESLR) initiated with a BUY, target price $12.50. Stanford believes ESLR has several near-term catalysts:
- analyst day on June 19
- the opening of its first Devens, MA facility
- another polysilicon deal with DC Chemical
- the planned IPO of its European joint venture
SunPower (SPWR) initiated with a BUY, target price $110. Stanford’s is high on SPWR because it has the highest conversion efficiency in the industry and because it has multiple polysilicon supply contracts (polysilicon could be in short supply).
What solar stock does Stanford not like? First Solar (FSLR). The firm initiated with a HOLD. While Stanford notes FSLR is likely to maintain its cost advantage for several years as a result of its lower cost thin film technology, the stock is just too expensive for them.
First Solar (FSLR) Moving Into France, Reducing Reliance on Germany (FSLR)
First Solar (FSLR), SunPower (SPWR), Evergreen (ESLR): Margins To Expand, Driving Stocks Higher (FSLR, ESLR, SPWR, ASTI, ENER, HOKU, STP, TSL)
First Solar (FSLR): Here’s Why Three of Those Concerns Are Overblown (FSLR)