On the first trading day of 2014, solar stocks are picking up right where they left off in 2013. Today's gains come in spite of a general selloff in equities.
A bullish Deutsche note could be helping the group: The firm's checks lead it to think cumulative Chinese solar installations will pass a 2014 government target of 12GW this year. Last month, Deutsche defended Chinese solar names in the face of concerns about a possible 4GW 2014 cap on local utility-scale installations.
Yingli (YGE +14.2%) is headlining today's winners. The company has announced it's forming a JV with a unit of Datong Coal Mine to build solar power plants in the Chinese city of Shuozhou. Hanwha, which has announced a Belgian module supply deal, is also up sharply.