JA Solar Holdings Co. Ltd. (ADR) (NASDAQ: JASO) entered into a series of series of supply agreements. JA Solar signed strategic agreements with Innovalight Inc., which includes a three-year supply agreement for silicon nanoparticle ink from Innovalight for the production of SECIUM high efficiency solar cells. The company also signed agreements with Solar-Fabrik AG and MEMC Electronic Materials Inc.
Jefferies & Co. today reiterated its Buy rating for JA Solar Holdings Inc. Jefferies also reiterated its Buy rating for Trina Solar (ADR) (NYSE: TSL), Yingli Green Energy (ADR) (NYSE: YGE) and Solarfun Power Holdings Co. Ltd. (ADR) (NASDAQ: SOLF).
In its research report on the solar industry, Jefferies said that it believes more and more German and Japanese brands are pursuing white label module approach, sourcing modules from China. Jefferies said in its report that JA Solar and Solarfun are most likely to benefit from this trend and Trina Solar and Yingli Green are unlikely to manufacture a module for another brand.
Trina Solar raised its guidance for full year 2010 PV module shipments from 750-800 MW to 900-930 MW. The company expects to ship 250-260 MW of PV modules, in the third quarter of 2010.
Auriga analyst Mark W. Bachman, currently, has a Buy rating on Trina Solar, with a price target of $41.
Yingli Green commenced construction of a 100 MW multi-crystalline silicon manufacturing plant in Hainan province.
Meanwhile, SunPower Corporation (NASDAQ: SPWRA) was recently upgraded by Soleil Securities from Hold to Buy rating. In its research report Soleil Securities said that its checks indicate a large volume of system business in the sector is going to be finalized in the fourth quarter of 2010.
LDK Solar (NYSE: LDK) recently announced that is started producing solar cells at its 60-megawatt facility. The company is planning to increase its output to 18,000 metric tons by the end of 2011. In a recently released research report, Lazard Capital Markets reiterated its Buy rating for LDK Solar, with a price target of $10.
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