After struggling through most of 2012, the solar industry has started 2013 on an impressive run. Both the Market Vectors Solar Energy ETF (KWT) and the Guggenheim Solar ETF (TAN), both of which are indexes to give investors a way to track performance of the solar industry, have gained nearly 20% year-to-date.
Solar companies received a boost last week after analysts from Citigroup’s global solar sector research team initiated coverage on several companies in the industry. First Solar, Inc. and SunPower Corp. were the biggest gainers after receiving an initial “buy” rating from Citi, while Trina Solar Ltd. and Yingli Green Energy Holding Co. Ltd. benefited from a “neutral” rating, according to analysis firm Research Driven Investing.
“The upstream segment of the solar value chain is going through a permanent structural shift – mainly the commoditization of the panel manufacturing business,” wrote Citigroup analyst Shahriar Pourreza.
Research Driven Investing releases regular market updates on the solar industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. It also provides equity research on LDK Solar Co. and JinkoSolar Holding Co.
LDK Solar is a leading vertically integrated manufacturer of photovoltaic products. The company manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. The company reported its net loss shrunk to $136.9 million in the third quarter, compared to a net loss of $254.3 million in the previous quarter. Shares of LDK Solar have gained over 35% year-to-date.
JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of approximately 1.2 GW each for silicon wafers, solar cells and solar modules as of September30, 2012. The company is scheduled to release results for the fourth quarter of 2013 on Tuesday, March 5th. Shares of JinkoSolar have gained over 55% year-to-date.
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