Monday, October 4, 2010

JA Solar: Auriga Downgrades To Hold From Buy; Target $8

By Eric Savitz
Auriga USA analyst Mark Bachman this morning cut his rating on JA Solar (JASO) to Hold from Buy, noting that the stock at yesterday’s close of $9.33 has moved “meaningfully above” his $8 target price.

“Long-term investors may still find further upside to the shares as we assign a below-average P/E of just 8x, given JASO’s lack of vertical integration within the solar supply chain, while short-term investors should find the current price level attractive to recognize profits,” he writes in a research note. “We recognize that industry fundamentals remain strong, and that JASO will likely print Q3 results ahead of consensus estimates, however; our price target uses our 2011 EPS estimate, which we are unable to meaningfully raise at this time.”

JASO this morning is down 3 cents, at $9.30.

1 comment:

  1. Theirs an exchange traded fund that specilizes on solar realated stocks. Ths symbol is {TAN}


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