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Energy

Solar Daily Winners (CSIQ, SOL, STP)

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By Douglas A. McIntyre Updated Published
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We are seeing some positive reactions this afternoon in some of the solar stocks on an individual basis, despite energy prices not offering much of an added boost to the sector.  Canadian Solar Inc. (NASDAQ: CSIQ) is up on an upgrade.  ReneSola Ltd. (NYSE: SOL) is up on pact awards in China, and Suntech Power Holdings Co. (NYSE: STP) is up on a faster-delivery partnership.  More details are below.

Canadian Solar Inc. (NASDAQ: CSIQ) won from an analyst call this morning.  Oppenheimer reiterated its Outperform rating but raised its price target to $19.00 from $14.00.  These shares are up 6% at $13.35 today, which still implies more than 40% gains to the new price target.

ReneSola Ltd. (NYSE: SOL) is up 8% at $5.81 on mid-day pact announcement.  It reached agreements to develop some solar power generation projects with two municipalities in China.  An LOI was signed with Yancheng for a 500 MW project over six years.

Suntech Power Holdings Co. (NYSE: STP) has entered into a pact with Nippon Express to increase solar panel sales in Japan.  This aim is for faster delivery, according to a Nikkei report.  These shares are up 1.9% at $15.59.

JON C. OGG
JULY 16, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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