Solar energy shares have received a boost in recent years in light of the West’s distancing from the use of polluting energy and the promotion of laws and initiatives, the most essential of which is the Biden administration’s inflation reduction law, which was signed last summer and sent the shares to sharp rises. Since that enthusiasm, more increases have been recorded, but it seems that in recent months there has been a moderation, especially when it comes to the state of the stocks –
ENPHASE ENERGY
+6.03%
closure:0
opening:205.18
High:213.28
low:203.37
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
For example, it has lost about 40% of its value since December, and
SUNRUN INC
+6.66%
closure:0
opening:22.26
High:23.8
low:22.02
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
lost about 34% of its value during that period.
The same shares are taking off today after a recommendation from analyst Sean Milgan, who raised Anface’s rating from “neutral” to “buy” and raised the target price of the stock to $282, 33% above the current price. Milgen (of Janney Montgomery Scot) believes that although there are questions about demand for solar panels now, “some comments from public companies installing the panels have been very bullish.”
in the management of
SUNNOVA ENERGY INTERNATIONAL INC
+4.82%
closure:0
opening:16.81
High:17.55
low:16.62
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
For example, they said that “the demand for the company’s products has never been greater.” Also in-
SUNPOWER CORPORATION COMMON STOCK
+3.22%
closure:0
opening:14.65
High:15.04
low:14.55
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
We recently gave encouraging comments when it was said – “We are very satisfied with how the demand looks throughout the country”
“We expect our business in the US to weaken slightly in the first quarter of this year compared to the previous quarter, mainly due to seasonality and the macroeconomic conditions,” said Badri Kotenderman, CEO of Anface, in the last investor call. “We see our distributors and partner installers being a little cautious when it comes to new orders.” Despite this, the company’s sales forecast is still higher than Wall Street’s.
Along with Anface, the other stocks in the sector are also rising, among them
solaredge
+5.84%
closure:0
opening:301.99
High:315.9
low:300.29
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
. Solaradge’s stock actually managed to maintain stability compared to the other companies when it is a few percent away from where it was in December. Two weeks ago, the company published its financial reports for the last quarter of 2022, in which it surpassed analysts’ forecasts but fell due to lower profit forecasts.
The company recorded an adjusted profit of $2.86 per share, almost double the analysts’ expectations for an adjusted profit of $1.56 per share. In terms of forecast, the company expects in the first quarter of 2023 revenues of 915-945 million dollars (average revenue is higher than the analysts for revenues of 918.5 million dollars) with the Non-GAAP operating profit being in the range of 150-170 million dollars.
The current recommendation is not the only one in recent times – last month the analyst Michael Blum from Wells Fargo raised the rating to three shares in the sector as he emphasizes that “while the continued tightening of the belt by the Fed at the beginning of 2023 is expected to be harmful in the short term, the cornerstones and regulatory support are expected to improve the situation later this year “. Blum also believes that a recession in the US can be positive for the sector: “A recession can be a tailwind for solar energy among private customers, who will probably re-prioritize their energy expenses.”
Comments to the article(0):
Your response has been received and will be published subject to the system policy.
Thanks.
for a new comment
Your response was not sent due to a communication problem, please try again.
Return to comment