Recapping the solar industry's Q2 performance, JPMorgan says it's pleased with strong Chinese and Japanese demand, bottom-line improvements driven by cost cuts and stabilizing pricing, and a growing focus by solar companies on projects rather than module sales.
The firm observes Japanese solar deployments are expected to soar to 6.9GW-9.4GW in 2013 from 1.8GW in 2012 (per Sharp), and that China wants to have 35GW of installed capacity by 2015. It also likes the margin improvements many solar firms delivered in Q2 (I, II, III).
Winners include JA Solar (JASO +13.6%), Yingli (YGE +10.2%), Hanwha SolarOne (HSOL +13.7%), Daqo (DQ +8.7%), LDK Solar (LDK +7.4%), China Sunergy (CSUN +5.3%), Canadian Solar (CSIQ +2.6%), and Trina (TSL +4.3%). Many of these names have already soared from last fall's lows.