Solar Stock News

NEW YORK, September 17 (newratings.com) - Analysts at Credit Suisse reinitiate coverage of First Solar Inc (ticker: FSLR) with an "outperform" rating. The target price is set to $130.

In a research note published this morning, the analysts mention that the company is on track to reducing its annual costs by about 10%. First Solar’s cost module technology enables gross margins of about 45% relative to nearly 20% for its c-Si peers, the analysts say. The company is likely to generate a revenue growth CAGR of about 70% in 2007-2010, Credit Suisse adds.

Suntech Power Holdings Co. Ltd. (STP) opened at 39.58. So far today, the stock has hit a low of 39.50 and a high of 40.41. STP is now trading at 40.24, up 1.19 (3.01%). The stock hit its 52 week high of 44.94 in July and set its 52 week low of 23.15 in October. STP rose at the end of 2006, but has been moving sideways this year. Shares of Suntech Power Holdings have been soaring today after a Jefferies & Co. analyst initiated coverage on the stock with a buy rating, anticipating strong earnings due the company's new Pluto technology. The broker set a price target of $45 per share. Technical indicators for the stock are bearish but slightly improving while S&P gives STP a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a December bull-put credit spread below the $30 range. STP stock could fall up to 25.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]

Labels: FSLR, Solar Stocks, STP

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