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FSLR

First Solar

$56.54

-0.37 (-0.65%)

, ENPH

Enphase Energy

$24.75

0.46 (1.89%)

06:34
10/15/19
10/15
06:34
10/15/19
06:34

JPMorgan remains constructive on Alternative Energy into Q3 results

JPMorgan analyst Paul Coster remains constructive on Alternative Energy fundamentals into the Q3 earnings reports. Stocks in the group have outperformed year-to-date owing to strong global demand, stable selling prices, decent execution, and improved clarity regarding government policy, Coster tells investors in a research note. His top picks into the prints are Overweight-rated First Solar (FSLR), Enphase Energy (ENPH), Hannon Armstrong (HASI), SolarEdge (SEDG), and Sunnova Energy (NOVA).

FSLR

First Solar

$56.54

-0.37 (-0.65%)

ENPH

Enphase Energy

$24.75

0.46 (1.89%)

HASI

Hannon Armstrong

$28.32

-0.5 (-1.73%)

SEDG

SolarEdge

$89.14

0.19 (0.21%)

NOVA

Sunnova Energy

$10.06

-0.105 (-1.03%)

  • 03

    Dec

FSLR First Solar
$56.54

-0.37 (-0.65%)

10/07/19
COWN
10/07/19
NO CHANGE
Target $83
COWN
Outperform
Tariff exemption positive for First Solar, says Cowen
Cowen analyst Jeffrey Osborne said the US Trade Representative pulled the tariff exemption for bifacial solar panels which were exempt from the current 25% tariff. The analyst said he expects a favorable reaction from First Solar (FSLR) shares and to a lesser extent SunPower (SPWR). He said the sharp increase in bifacial capacity coupled with a China slowdown has pressured the shares recently but this should provided some relief. Osborne maintained his Outperform rating and $83 price target on First Solar shares.
10/07/19
GSCO
10/07/19
NO CHANGE
GSCO
Goldman says U.S. solar makers should benefit from end of bifacial exemption
Goldman Sachs analyst Brian Lee noted that the Office of the United States Trade Representative said it will withdraw a previously granted Section 201 tariff exemption for bifacial solar panels, which he sees removing a key potential overhang for solar panel pricing and U.S. competition and also believes was unexpected by most investors. Lee thinks U.S. solar manufacturers such as First Solar (FSLR) and SunPower (SPWR) are key beneficiaries of the news, while Chinese solar panel makers with bifacial capacity expansion plans, including JinkoSolar (JKS) and Canadian Solar (CSIQ), are most likely to be negatively impacted. Lee has Buy ratings on First Solar, SunPower and Canadian Solar and a Sell rating on JinkoSolar.
10/03/19
ROTH
10/03/19
NO CHANGE
Target $75
ROTH
Buy
201 bifacial exclusion may be reversed, positive for First Solar, says Roth Capital
Roth Capital analyst Philip Shen notes that his checks suggest the Trump Administration has decided to reverse the 201 bifacial exclusion issued in June. While it does not matter too much for 2020 as most of the volume will be standard mono PERC, it likely slows down the maturation of bifacial, thereby supporting First Solar and its S6 technology, he contends. The analyst sees this as an incremental positive for First Solar, and reiterates a Buy rating and $75 price target on the shares.
10/08/19
JPMS
10/08/19
NO CHANGE
Target $82
JPMS
Overweight
First Solar to benefit from bi-facial solar panel tariff, says JPMorgan
First Solar's "encouraging" medium-term prospects "should get even better" if the Trump Administration revokes an exemption on Section 201 tariffs for imported bi-facial solar panels as signaled on October 4, JPMorgan analyst Paul Coster tells investors in a research note. A 25% duty on these imported modules might slow "torrid" U.S. adoption generally, but it would "specifically strengthen" First Solar's position in the domestic utility-scale solar market for the next couple of years, contends the analyst. Prospects for an earnings "surge through 2020 look very good," adds Coster, who reiterates an Overweight rating on First Solar with an $82 price target.
ENPH Enphase Energy
$24.75

0.46 (1.89%)

09/16/19
JPMS
09/16/19
INITIATION
Target $32
JPMS
Overweight
Enphase Energy initiated with an Overweight at JPMorgan
JPMorgan analyst Mark Strouse started Enphase Energy with an Overweight rating and December 2020 price target of $32. The analyst is "encouraged" by Enphase's fundamental outlook, driven by industry tailwinds as well as company-specific tailwinds from new products, improving margins and cash flow, and international expansion opportunities. Further, despite the recent outperformance, the analyst believes the stock's valuation remains attractive on a growth-adjusted basis.
09/12/19
ROTH
09/12/19
NO CHANGE
ROTH
Buy
Generac success against Enphase, SolarEdge not guaranteed, says Roth Capital
Roth Capital analyst Philip Shen, in response to a report issued earlier today by Citron Research recommending shorting Enphase Energy (ENPH) and Solaredge Technologies (SEDG), said his quick initial checks with a potential customer, who he identified as "a top 10 U.S. resi installer, called Generac's (GNRC) residential solar solution "expensive and clunky." Entering the market "does not mean the company will succeed," stated Shen, who added that the inverter landscape "is littered with failed efforts and companies that have tried to copy" Enphase and Solaredge. The analyst, who thinks the Generac threat is "likely limited," sees the pullback in the other two stocks as an attractive opportunity to add shares and maintains Buy ratings on both.
08/26/19
NORL
08/26/19
NO CHANGE
Target $40
NORL
Outperform
Enphase Energy price target raised to $40 from $28 at Northland
Northland analyst Gus Richard raised his price target for Enphase Energy to $40 from $28 saying investors are underestimating the barriers to entry for the company's ASICs and software development. Further, Enphase is moving up the value chain as its solution outsources commodity activities and instead addresses the complexity of energy management, Richard tells investors in a research note. He reiterates an Outperform rating on the shares.
09/16/19
09/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Finance Trust (AFIN) initiated with a Neutral at B. Riley FBR. 2. Investors Real Estate (IRET) initiated with a Buy at BTIG. 3. Preferred Apartment (APTS) initiated with a Buy at National Securities. 4. Enphase Energy (ENPH) initiated with an Overweight at JPMorgan. 5. Zoom Video (ZM) initiated with an Outperform at Baird. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
HASI Hannon Armstrong
$28.32

-0.5 (-1.73%)

11/30/18
UBSW
11/30/18
DOWNGRADE
Target $23
UBSW
Neutral
Hannon Armstrong downgraded to Neutral from Buy at UBS
UBS analyst Jon Windham downgraded Hannon Armstrong to Neutral while raising his price target for the shares to $23 from $22.
07/10/19
JPMS
07/10/19
NO CHANGE
JPMS
JPMorgan constructive Alternative Energy fundamentals into Q2 results
JPMorgan analyst Paul Coster remains constructive regarding Alternative Energy fundamentals into the Q2 reporting season. The analyst reiterates First Solar (FSLR), TPI Composites (TPIC), Hannon Armstrong (HASI) and Bloom Energy (BE) as his top picks. He highlights "strong" global demand, stable average selling prices, and improved clarity regarding government policy, especially in China.
03/13/19
RILY
03/13/19
INITIATION
Target $29
RILY
Buy
Hannon Armstrong resumed with a Buy at B. Riley FBR
B. Riley FBR analyst Christopher Van Horn resumed coverage of Hannon Armstrong with a Buy rating and $29 price target. The rating is unchanged from the firm's prior coverage and the price target is raised from $27.
03/12/19
JPMS
03/12/19
NO CHANGE
JPMS
JPMorgan likes four stocks in Alternative Energy
JPMorgan analyst Paul Coster says his Alternative Energy picks for 2019 remain Bloom Energy (BE), First Solar (FSLR), Hannon Armstrong (HASI), and TPI Composites (TPIC). The "decent" year-to-date gains notwithstanding, these four stocks offer favorable risk-reward opportunities through year-end, with Bloom and First Solar offering the highest return potential, Coster tells investors in a research note. He believes Alternative Energy fundamentals remain favorable across the spectrum of technologies, driven by "increasingly attractive unit-economics." This could be a "rare banner year for investors in Alt Energy SMid-Cap Stocks," says Coster.
SEDG SolarEdge
$89.14

0.19 (0.21%)

08/22/19
UBSW
08/22/19
DOWNGRADE
Target $90
UBSW
Neutral
SolarEdge downgraded to Neutral at UBS, price target raised to $90
UBS analyst Jon Windham downgraded SolarEdge to Neutral from Buy following 151% year-to-date share price appreciation compared to 17% for the S&P 500. In a research note to investors, Windham says he expects the second half of 2019 to mark the cycle peak in year-over-year adjusted EBITDA growth and sees SolarEdge growth more in-line with the global solar market in 2020-2021 as share gains slow. The analyst raised his price target to $90 from $73.
09/20/19
FBCO
09/20/19
NO CHANGE
Target $80
FBCO
Neutral
SolarEdge price target raised to $80 from $70 at Credit Suisse
Credit Suisse analyst Maheep Mandloi maintained a Neutral rating on SolarEdge and raised his price target to $80 from $70, citing optionality. In a research note to investors, Mandloi says he met with CFO Ronen Faier, who highlighted key growth areas that are expected to drive revenue growth in the long term vs. consensus estimates of $1.4B revenues in 2019, and says the utility scale solar and Kokam opportunities could alone be worth about $40 per share. The analyst says he awaits additional details on product launches and the company's ability to compete against incumbents at an analyst day in November.
08/22/19
UBSW
08/22/19
DOWNGRADE
UBSW
Neutral
SolarEdge downgraded to Neutral from Buy at UBS
NOVA Sunnova Energy
$10.06

-0.105 (-1.03%)

08/20/19
08/20/19
INITIATION
Target $14

Outperform
Credit Suisse bullish on Sunnova Energy, initiates with an Outperform
As previously reported, Credit Suisse analyst Michael Weinstein initiated Sunnova Energy with an Outperform and $14 price target. The analyst believes the company differentiates itself from peers with a sales model that relies entirely on independent dealer relationships and third-party installation, an opex-lean approach that capitalizes customer acquisition costs without in-house install or sales-lead generation expense. In addition to the core business of selling, financing, and leasing systems, solar energy credits, batteries, and eventually grid services add additional value, he contends.
08/20/19
BARD
08/20/19
INITIATION
Target $15
BARD
Outperform
Sunnova Energy initiated with an Outperform at Baird
As reported previously, Baird analyst Ben Kallo initiated Sunnova Energy with an Outperform rating as he sees a path to long-term customer and top-line growth, enabled by a growing residential solar market, additions to its dealer network, and introduction of new products. Skorney has a $15 price target on Sunnova Energy shares.
08/20/19
ROTH
08/20/19
INITIATION
Target $15
ROTH
Buy
Sunnova Energy initiated with a Buy at Roth Capital
Roth Capital analyst Philip Shen started coverage of Sunnova Energy with a Buy rating and a $15 price target. Compared with peers, the analyst believes Sunnova has a differentiated model, which does not conduct any installations and is a pure-play service company supporting installer/dealers. Shen thinks Sunnova is well-positioned to grow with its dealer base and gain share, and forecasts the company to grow its customers at a near 30% CAGR through 2022 versus his residential market growth forecast of 15%-20%.
08/20/19
08/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Immunomedics (IMMU) initiated with an Overweight at Cantor Fitzgerald. 2. PayPal (PYPL) initiated with a Buy at Rosenblatt while Square (SQ) was initiated with a Neutral. 3. Sunrun (RUN), Vivint Solar (VSLR), and Sunnova Energy (NOVA) initiated with an Overweight at KeyBanc. 4. Spotify (SPOT) initiated with an Equal Weight at Consumer Edge. 5. Silk Road Medical (SILK) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

QTT

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QTT

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STIM

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VERO

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AEM

Agnico Eagle

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SUMR

Summer Infant

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-0.0041 (-1.30%)

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PCG

PG&E

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-0.22 (-3.11%)

16:42
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Periodicals
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ALC

Alcon

$59.00

0.105 (0.18%)

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BDSI

BioDelivery Sciences

$6.14

0.06 (0.99%)

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  • 17

    Dec

USO

United States Oil Fund

$11.57

-0.33 (-2.77%)

16:40
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General News
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URBN

Urban Outfitters

$28.73

-1.43 (-4.74%)

, ANF

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$16.79

-0.295 (-1.73%)

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AEO

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GPS

Gap

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ZUMZ

Zumiez

$29.80

-0.08 (-0.27%)

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ALC

Alcon

$59.00

0.105 (0.18%)

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  • 20

    Nov

  • 02

    Dec

FIX

Comfort Systems USA

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  • 19

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ALC

Alcon

$59.00

0.105 (0.18%)

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BBT

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LDOS

Leidos

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NXPI

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  • 20

    Nov

NXPI

NXP Semiconductors

$113.92

-2.02 (-1.74%)

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  • 20

    Nov

MGP

MGM Growth

$32.46

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16:30
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Options
Preliminary option volume of 19.3M today »

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VAL

Valaris

$3.69

-0.51 (-12.14%)

16:29
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Initiation
Valaris initiated  »

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FTI

TechnipFMC

$19.29

-0.24 (-1.23%)

16:29
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Initiation
TechnipFMC initiated  »

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MUX

McEwen Mining

$1.51

-0.015 (-0.98%)

16:28
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Syndicate
McEwen Mining files to sell common stock, warrants, no amount given »

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