Suntech (STP): Solar 'ChangeWave'

Some comments regarding Suntech Power Holdings Co., Ltd. (ADR) (Public, NYSE:STP):

Long-standing growth stock expert Toby Smith looks to Suntech Power (NYSE: STP: 16.42, 0.24) as a long-term investment in alternative energy. Here's the latest from his ChangeWave Investing.

"Suntech, like every other solar company, has been impacted by a lack of financing from the slow release of the Stimulus funds -- and its latest quarterly results reflect that.

"Prices for its solar panels fell 8% in Q2 and will likely drop another 15% to 20% in the current quarter. Still, Suntech's Q2 profit topped consensus by 3 cents on revenue that fell by one-third, to $321 million."

"The company has 2 gigawatts (GW) of projects in the United States and is on the short list for another 1 GW. In China, STP will probably benefit from government subsidy and tariff programs in the near future."

source

After so many Bearish Analysis, STP starting rallying and just had today one week of consecutive gains. Short-term is getting overbought but don't get short with this strength across board. Mid-term trend is still sideways.

Labels: solar charts, Solar Stocks, STP, Suntech Power

posted by Ertai at 10:45 AM