Lazard Capital Markets' Sanjay Shrestha, who covers alternative energy and infrastructure for the firm, has come out and maintained his Buy ratings on many key solar stocks his morning. The catalyst is ahead of Photon International annual Photovoltaic Technology Show next week in Munich, Germany. Here are the targets on several stocks:
- Energy Conversion Devices, Inc. (NASDAQ: ENER) maintained BUY with $26.57 current price, target price is $40.00.
- Evergreen Solar (NASDAQ: ESLR) maintained BUY with $8.39 current price, target price is $15.00.
- First Solar, Inc. (NASDAQ: FSLR) maintained BUY with $209.50 current price, target price is $250.00.
- SunPower Corporation (NASDAQ: SPWR) maintained BUY with $68.24 current price, target price is $185.00.
- Suntech Power Holdings Co. Ltd.(NYSE: STP) maintained BUY with $34.45 current price, target is $90.00....MORE
Closing prices April 11 and percentage move since 3-25:
ENER---$31.00 up 16.67%
ESLR---$10.36 up 23.48%
FSLR---$268.30 up 28.06%
SPWR---$$87.77 up 28.62%
STP----$44.39 up 28.85 %
Some solid 18 day moves, especially considering the date of the 24/7 post was already two weeks after the Mar. 10 market lows. We like Lazard (and Cowen).
In this post "Solar: Cowen & Co. Analysts Are Demi-Gods" we said:
Both Lazard and Cowen have made some very timely calls on First Solar.