October 5, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman commented this morning on the California Solar Initiative, noting that analysis of the CDI Program Data through 3Q2009 indicates continued application growth in California. Key Takeaways middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; In C2009, as of September 30, the CSI has submitted 169MW worth of applications (compared with 185.6MW for all of C2008) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; YTD, the overall market has grown 23% Y/Y middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Residential sector has already reached 103% of its 2008 total middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Government sector has reached 139% of its 2008 total middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Commercial sector is down 25% middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 42% of Q3nbsp; applications came from SunPower (Nasdaq:SWPRA), Suntech (NYSE:STP) or Sharp (7503.T) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes Suntech and Sharp offer the best solutions, while SunPowerrsquo;s market share has flattened to the mid-teens middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; New entrants in the market include First Solar (Nasdaq:FSLR), Yingli (NYSE:YGE) and BP Solar

For Immediate Release

Chicago, IL - June 16, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Marriott (MAR), Starwood (HOT), National Semiconductor (NSM), Kyocera (KYO) and SunPower (STP).

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Here are highlights from Monday's Analyst Blog:

Extended Stay Hotels Bankrupt

The current owners of Extended Stay Hotels (private) acquired the chain in June of 2007, near the peak of the market for hotel assets, for $8 billion. The deal was highly leveraged, reportedly consisting of $7 billion in debt and only $1 billion in cash. With

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April 6, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Rob Stone weighed in on the solar sector industryrsquo;s outlook this morning cutting estimates again across his solar coverage on further erosion in ASPs, noting that Q1 results could put some pressure on the group. As he noted, this shouldnrsquo;t be too much of a surprise to anyone, as prices have been on a steady decline over the past few quarters. Stone accordingly made adjustments on all companies he is following including: Key Takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Spot prices on poly have fallen to $80-$100/kg while wafers are about $1.20/watt. Module prices are $2.60 -$2.80, and Stone thinks prices could fall another 5% in Q2. Expect another round of inventory write-downs; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Climate Bill which could include a national renewable electricity standard of as much as 25% by 2025 could be a catalyst for solar, but it could take a while to ...

February 20, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Rob Stone weighed in on First Solar (Nasdaq:FLSR) this morning maintaining an OUTPEFORM rating on the stock, iterating that he expects Q4 results to beat the Street ndash; though he wouldnrsquo;t be surprised to see management trim FY09 guidance. Stone also updated his comments on Suntech (NYSE:STP) yesterday –

Key First Solar Takeaways:

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; First Solar should be able to lsquo;ride out the stormrsquo; as a low cost producer with strong margins and plenty of cash

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Expects Q4 EPS to beat the Street by 5% to 10%

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Stone is about 7% to 13% below Street on FY09 revenue and EPS, though impact of stimulus bill ldquo;is wildcard to the upsiderdquo;

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Expects further push for volume and scale as the utility segment takes off

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Sees 50% upside potential vs. the market in 12 months and reiterates OUTPERFORM rating

Key Suntech Takeaways: …

January 26, 2009 ndash; Suntech Power (NYSE:STP) has seen its stock decline to $8.87 on Fridayrsquo;s close from $11.80 at the outset of this yearrsquo;s trading session and from the $50 level this time last year. In the past couple months the stock has been seemingly downgraded by the world, which has been warranted in light of erosion in the companyrsquo;s near term outlook. On Friday, although management said revenues for the Q4 would come in higher than previously guided, the Street focused on downbeat margin guidance of -1% to 2% for the period due to an inventory and impairment charge resulting in one-time charges of about $100 million. The question at this point is whether all of the bad news has been priced into the stock. Our FY08 revenue expectations for the company are on the low end of guidance at $1.91 billion, and our income expectations are $86.9 ...

January 12, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Rob Stone weighed in this morning on Suntech (NYSE:STP), First Solar (Nasdaq:FSLR), Energy Conversion Devices (Nassaq:ENER), China Sunergy (Nasdaq:CSUN), Trina Solar (NYSE:TSL), SunPower (Nasdaq:SPRWA) and Evergreen Solar (Nasdaq:ESLR). The common theme to Stonersquo;s comments is lowering global demand and cutting estimates across his universe of solar coverage. Here are some of his key takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Suntech ndash; lowering estimates, 2009/10E shipments to 630MW and 930MW (down from prior 750MW and 1,175MW); trimming ASPs to $3.05 and $2.75 respectively; reducing revenue targets; cutting gross margin and cutting EPS. Maintains OUTPERFORM. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; First Solar ndash; lowering estimates, 2009/10E shipments to 917MW and 1,365MW (down from prior 1,045 and 1,522); trimming 2010 ASPs to euro;1.39; reducing revenue targets and reducing EPS. Maintains OUTPERFORM. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Energy Conversion Devices ndash; lowering estimates, 2009/10E shipments of 146MW and 254MW (down from prior 151MW and 278MW); trimming ...

November 21, 2008 ndash; ANALYST NOTES ndash; This morning Jesup amp; Lamontrsquo;s Brian Yerger, and Cowen amp; Companyrsquo;s Robert Stone both weighed in on Suntech Power (NYSE:STP), with Yerger rating STP at a BUY with a $9.00 price target and Stone maintaining his OUTPERFORMANCE rating indicating 50% upside vs. the market in 12 months. Here are the key takeaways from both analysts: Yerger (Jesup amp; Lamont) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Suntechrsquo;s leadership position in Chinese solar manufacturing industry should enable it to benefit from tremendous upheaval and probable shakeout of marginal producers in current macroeconomic environment; nbsp; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Near-term results will be severely impacted (negatively) resulting in Yergerrsquo;s lowering of 2009 revenue and EPS estimates middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Yerger believes the current stock price of $5.39 reflects the bad news and thinks a large part of recent turmoil has been discounted middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Lowered price target to $9.00 from $60.00 and lowered multiple to 10x from 25x 2009 EPS of ...

November 20, 2008 ndash; Analyst Notes ndash; Cowen amp; Companyrsquo;s Robert Stone issued comments this morning on Suntech (NYSE:STP) on the heels of its Q3 EPS miss by 21%. Stone said Suntechrsquo;s revenue is being hurt by steep ASP erosion due to the weaker euro, but added that the company has shifted to a capital preservation mode and liquidity should not be an issue. Other key takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes STP remains a long-term leader in PV middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Given uncertain outlook we may see further weakness in the stock (book value is $6.12) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Roughly half the comparable companies in the midstream solar space are trading at 1.1x book or below Midstream Solar Comparables (as of yesterdayrsquo;s close) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; First Solar (Nasdaq:FSLR) trading at 6x book middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Ersol Solar (ES6.DE) trading at 4.2x book middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; SunPower (Nasdaq:SPWRA) trading at 2.1x book middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; REC (REC.OL) trading at 1.8x book middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; LDK (NYSE:LDK) trading at 1.6x book middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Energy Conversion ...

October 29, 2008 – With valuations on the S&P based on estimated profits now at 10.7 times, and valuations in the solar sector at even lower levels, we have to ask how pessimistic, and how cynical the markets are going to get when valuing these companies. What is a reasonable valuation for an industry that is growing 62% per year and for leading companies that are posting triple-digit earnings and revenue growth? For example, LDK Solar (NYSE:LDK) is trading 6.13 times trailing 12 months earnings, and slightly more than 1 times trailing 12 months sales. It is posting more than $100 million in profit per month, it has $1 billion in cash (on prepayments of contracts) and is booked through 1018. It has no need to raise capital and has recently said it won’t do so for the next couple years while it is doubling production capacity. The company expects ...

October 14, 2008 – The largest solar conference in North America is being held this week, and all of the major players, as well as a strong representation from Wall Street, are in attendance, here in San Diego. Today, the conference kicks off, and in conjunction, Lazard is hosting a conference for several leading solar companies. Tomorrow, Piper Jaffray will be hosting a symposium where many of the same companies will present again. In addition, at the conference itself, in the Finance Track, Rob Stone of Cowen will be on panel discussing the financial and market conditions in the solar industry. So to be sure, this week we will come away with a significant amount of increased transparency into the health of the solar industry, which is much needed on the heels of the recent market turbulence with comments about oversupply in the module space that has created so much ...