Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Analyst says take profit in JASO

|Includes:CSIQ, FSLR, HQCL, JA Solar Holdings, Co., Ltd. (JASO), LDK, SOL, SPWR, STP, TSL

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

Auriga USA analyst Mark Bachman this morning cut his rating on JA Solar (NASDAQ: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.”

Stocks: JASO, SOL, CSIQ, SPWR, FSLR, STP, TSL, LDK, HQCL