After turning an awful quarter that didn’t even sniff analysts expectations, JA Solar (JASO) took off today. The stock is up 23% to around $3.91 of this writing. It even broke $4.00 this afternoon.
The bump in the stock is being attributed to Broadpoint analyst John Hardy, who says solar pricing has begun to stabilise. He also says the JA Solar’s balance sheet is healthy enough to ride out the storm. Hardy slapped a $5 price tag on it and says, “the risk/reward is now favourable.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.