Piper Jaffray initiated coverage on ReneSola Ltd. with a Buy rating and $25 price target.
Analyst Jesse Pichel expects long-term margin expansion as the product mix shifts toward multi-crystalline wafers from mono and as tolling revenue grows. Pichel sees potential upside in the tolling biz due to the recent JASO supply contract with GCL.
Pichel also likes the current valuation of SOL, which is about $18 per share.
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now managing the Parisian Family Office. A White Earth Chippewa, raised conservative, growing up in the poorest county in the U.S. on the Pine Ridge Indian Reservation, he began a Wall Street career in 1982. Always been, will always be, an optimist. In a world on a dopamine binge, this is his take on life from Ghost Ranch in MT, Pamelot, his TN farm or their home in San Jose del Cabo, Mexico.
Wednesday, April 23, 2008
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