Let’s recap some of the latest news:
1. Suntech Announces Contract to Supply World’s Largest Solar Power Plant in Spain.
2. China plans to build the world’s largest Solar power plant. We don’t know if Suntech Power is playing a role in this yet but its a pretty good bet that they will play a role.
3. Recently upgraded to ‘Outperform’ by Credit Suisse.
4. Credit Suisse has a price target of $116.30 per ADR.
5. Recently upgraded to ‘Overweight’ by Thomas Weisel.
6. Suntech already has ‘Buy’ ratings from Citigroup and Goldman Sachs.
7. Citigroup has a price target of $52.
8. Sunny outlook by Motley Fool. It’s also a ‘Motley Fool Rule Breakers’ recommendation.
9. Three recent positive articles on Suntech Power on SeekingAlpha by Average Joe Investor, Will Gabrielski and Daniele Guerini. Asif Suria, also picked Suntech Power in his August issue of SinLetter.
Count me as another Seeking Alpha contributor who is bullish on this stock.
STP 1-yr chart:
Disclosure: I am long Suntech Power (STP) and Evergreen Solar (ESLR)