Solar Stocks of the Week: JASO, FSLR, SPWRA, WFR, SOLF, STP (9/14-9/18)
"Strong Buy" Rated U.S.-Listed Chinese Stocks (February 8, 2012)
By Michael Liu
Below are last week's notable solar stocks that had BOTH significant price changes and news events:
JA Solar Holdings Co., Ltd. (NASDAQ:JASO) rose 17.95% to $4.60 last week. Tuseday before market open, the company announced that it is working to commercialize a new generation of high-performance solar products using silicon ink technology from Innovalight, Inc.
First Solar, Inc. (NASDAQ:FSLR) rose 14.19% to $156.15. On Monday, Soleil Securities downgraded FSLR from Hold to Sell, and reduced price target from $170 to $96. On Tuesday, Collins Stewart maintained Hold rating on FSLR. On Thursday, Barclays Capital maintained Equal Weight rating on FSLR, and raised price target from $140 to $160. Credit Suisse maintained Neutral rating and $135 price target on FSLR.
SunPower Corporation (NASDAQ:SPWRA) rose 13.52% to $33.09. On Monday, Raymond James downgraded SPWRA from Strong Buy to Outperform, and reduced price target from $37 to $35. On Thursday, Barclays Capital maintained Equal Weight rating on SPWRA, and raised price target from $31 to $35.
MEMC Electronic Materials, Inc. (NYSE:WFR) rose 10.05% to $18.94. On Thursday, Citigroup maintained Buy rating and $24 price target on WFR. UBS maintained Buy rating and $22 price target on WFR. On Friday, Citigroup maintained Buy rating and $24 price target on WFR.
Solarfun Power Holdings Co., Ltd. (NASDAQ:SOLF) rose 8.25% to $6.43. Tuesday before market open, the company announced the appointment of John Breckenridge to Board of Directors. The company announced updated Q3:2009 business outlook Thursday before market open. Barclays Capital maintained Underweight and $3.20 price target on SOLF. Broadpoint AmTech maintained Neutral rating and $5 price target on SOLF. On Friday, Oppenheimer & Co. maintained Perform rating on SOLF.
Suntech Power Holdings Co., Ltd. (NYSE:STP) rose 6.20% to $16.96. On Friday, Barclays Capital maintained Equal Weight rating and $14 price target on STP.
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