SCTY, SUNE, SPWR, CSIQ, RGSE, up on Canaccord launches

Canaccord has launched coverage on SolarCity (SCTY +4.4%),  SunEdison (SUNE +1.2%), Canadian Solar (CSIQ +2.3%), and RGS Energy (RGSE +4.7%) with Buy ratings.

SunPower (SPWR +0.6%) is up slightly in spite of being started at Hold.

Canaccord's Josh Baribeau predicts the solar industry as a whole will benefit as "financial innovation such as risk pooling, securitization, de-levering etc. continue to drive the costs of capital and system costs downward."

Baribeau expects SolarCity ($94 PT, leading the securitization trend) to beat Street deployment estimates, and to see strong cash flow growth with the help of declining component and financing costs.

He likes Canadian's low manufacturing costs, industry-leading commercial backlog, and relatively low Chinese sales dependence. His target is $43, or 10x 2015E EPS.

Solar ETFs: KWT, TAN

Previous: Deutsche upbeat on solar YieldCo potential

From other sites
Comments (2)
  • Weighing Machine
    , contributor
    Comments (917) | Send Message
    somebody should start a hedge fund doing the opposite of cannacord
    2 Jul 2014, 10:27 AM Reply Like
  • cpryds
    , contributor
    Comments (94) | Send Message
    You missed a "because".
    3 Jul 2014, 04:45 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs