Analysts Comments on SunPower (Nasdaq:SPWRA), Trina Solar (NYSE:TSL) & Evergreen Solar (Nasdaq:ESLR)
Source: http://feeds.feedburner.com/~r/smallcappulse/feed/~3/421652017/Posted on Wednesday, October 15th, 2008 | In Small & Micro Cap
October 15, 2008 – ANALYST COMMENTS (SunPower, Trina Solar and Evergreen Solar) Rob Stone of Cowen & Company reiterated his rating on SunPower (Nasdaq:SPWRA) yesterday with an Outperform rating, concluding that the company is one of the best positioned companies in the sector because of its product breadth and channel coverage. Stone said its ability to provide funding for smaller-scale rooftop systems in the European markets is an advantage as well.
In addition, Stone reiterated his Outperform rating on Trina Solar (NYSE:TSL), commenting that at a 0.9x tangible book value he thinks the stock is currently “significantly undervalued.” He said Trina expects to expand gross margins in 2009 and that its credit lines and cash flow should support its planned cap ex, so this risk is more than factored into the current stock price.
And this morning, Stone reiterated Evergreen Solar (Nasdaq:ESLR) at an Outperform, noting that while there is “meaningful downside risk going into the Q3 report”, and risk from dilution for the 30.9 million shares loaned to Lehman, there is also some real upside with a successful ramp of its Devens plant. Stone forecasts in line Q3, but expects Q4 EPS to come in below estimates.
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Cowen & Company, Evergreen Solar, Lehman, Rob Stone, rooftop systems, Small & Micro Cap, small cap pulse, Sunpower, Trina Solar, TSL) & Evergreen Solar
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