Cowen’s Stone Comments on Speculation About Cuts in German FIT and Caps on Installations
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/6payySpAeG4/Posted on Friday, October 16th, 2009 | In Investing Lessons, Small & Micro Cap
October 16, 2009 ndash; Analyst Comments ndash; Cowenrsquo;s Rob Stone commented on reports that Germany will be slashing its Feed in Tariff and capping installations. He said he doesnrsquo;t expect implementation any sooner than mid-2010 and already falling prices should allow the industry to adapt.
Key Takeaways
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Solar firms Stone is covering with the least amount of exposure to Germany are SunPower (Nasdaq:SPWRA) and Trina Solar (NYSE:TSL)
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Thinks German FDP spokeswoman statements about an lsquo;enormousrsquo; cut in FIT is premature and posturing. Any cut would still have to go through legislation in both houses of the German parliament and will result in a lower compromise.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Big cuts in German and a cap would risk repeating the Spanish solar market collapse and lsquo;drastic job lossesrsquo;
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