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4Q solar growth outlook driven by Germany-analyst

Post Time:Sep 23,2009Classify:Industry NewsView:305

Fourth-quarter solar shipments could rise from third-quarter levels, despite typical seasonal weakness, driven mainly by German shipments, said an analyst on Monday as he held to his ratings for First Solar Inc. and SunPower Corp., while maintaining a "Neutral" rating for the sector.

Barclays analyst Vishal Shah said that overall German shipments could potentially reach between 2.5 gigawatts and 3.4 GW, up from his earlier expectations of about 2 GW.

Shah maintained his "Equal Weight" rating for First Solar Inc. and SunPower Corp. and said he expects their relative outperformance to continue into third-quarter earnings.

Shares of First Solar rose 54 cents to $156.69 in afternoon trading. SunPower shares fell 61 cents to $32.48.

Elsewhere in the sector Solarfun Power Holdings Co. Ltd. shares rose 34 cents, or 5.3 percent, to $6.77. Trina Solar Ltd. shares climbed $1.50, or 4.7 percent, to $32.94.

Source: First Solar, Inc. / Associated PressAuthor: shangyi

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