Pacific Crest’s Mark Bachman Updates on CSI Initiative – Suntech (NYSE:STP) Accelerating
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/udrhsNO6yh0/Posted on Friday, July 3rd, 2009 | In Market Commentary, Small & Micro Cap
July 2, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman provided an update this morning on the California Solar Initiative (CSI), noting that the first half of 2009 showed strong growth in California PV applications.
Key Takeaways
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; The first half of 2009 is up 71% over the same period in 2008 for solar installations under the CSI at 108.1MW.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; SunPowerrsquo;s (Nasdaq:SPWRA) Y/Y growth for this period was only 13%, compared with Sharp (6753.T) which is up 126%, SolarWorld (SWV.DE) which is up 281% and Suntech (NYSE:STP) which is up a staggering 538%.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; The government segment continues to lead the CSI program, driven by a stronger subsidy ($2.30/watt) than commercial and residential ($1.55/watt). The government sector has 38.1MW installed through June, 2009, up 146% over the same period last year.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Sharp and Suntech have been able to win increasing share in the U.S. from recent 30% price cuts over Q1 levels, while SunPowerrsquo;s have dropped between 15% and 25%.
Last 5 posts by Small Cap Pulse
- Global Hunter’s Justin Cable Maintains Neutral on Ormat (NYSE:ORA) - $45 Price Target - November 6th, 2009
- Global Hunter’s Justin Cable Maintains Neutral on Ormat (NYSE:ORA) - $45 Price Target - November 6th, 2009
- Pacific Crest’s Bachman Downgrades Evergreen Solar (Nasdaq:ESLR) to SECTOR PERFORM - November 6th, 2009
- Bachman Comments on Implications of First Solar (Nasdaq:FSLR) Land Purchase From Ausra - November 6th, 2009
- Cowen’s Stone Weighs in on Evergreen Solar (Nasdaq:ESLR) Q3 Results - November 5th, 2009
 About Small Cap Pulse (http://www.smallcappulse.com/index.php/blog/detail/)
Our focus at Small Cap Pulse is to provide our readers with timely and insightful stock ideas and market information, commentary about the economy and political conditions influencing it. We don't believe that stocks trade in a vacuum, so we believe that it is important to consider macroeconomics, the political climate, seculrar and industry trends that are relevant and necessary to consider when contemplating taking a long or short position, regardless of whether it is a long-term minded investment or a day-trade. So we will spend time discussing general conditions that we believe will influence the performance of companies that we report on in the Small Cap Pulse. We hope that you find our site informative and useful. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.