- Roth Capital has reiterated its Neutral rating on ReneSola (SOL -1.4%) after the company swung to a Q1 profit yesterday amid a shift toward higher margin projects.
- Roth's Philip Shen has a $1.45 price target; shares are quoting at $1.40 today after gaining 12.8% yesterday.
- “Management reiterated expected project sales of ~100MW in 2016 and expanded its late-stage pipeline to 323MW giving us greater confidence that the company’s sales target is achievable,” Shen says, though he would like to see a greater demonstration of its ability to grow distribution and downstream, while keeping margins stable at its manufacturing business.