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  1. 2 points
    reference the transcript on Seekin Alpha https://seekingalpha.com/article/4306016-canadian-solars-csiq-ceo-shawn-qu-q3-2019-results-earnings-call-transcript?part=single This is what they said about margins for 2020 Yan Zhuang ‘But our shipment volume will go up, which will compensate for the slight percentage down on the margin side,” Currently dropping from around 22-23% to your 15% is not a slight drop. That is a 30% drop. So where are margins? And what might be a slight drop? Here are comments that can give you suggested target costs. Your using current costs for next year is not reasonable because that suggests a 12.5% margin today and they are nearly double that. “Gross margin is expected to be between 19% and 21%. The lower margin reflects the expected lower margin contribution from project sales in Q4.” “ primarily driven by the slippery of the project sale closing. And a smaller part is on the module side, because of the price dropping.” “There’s also a project that’s low margin that’s going to close in next quarter, it’s called McBride project. That’s a $130 million with a low margin sale.” These comments indicates that module margins are higher than 21%. It suggests margins are in the 22-24% range for module as the low margin project is being blamed for most of the margin drop from Q3. Currently in Q3 margins was 23% + CVD reversals. In Q4 backing out the $130M McBride project at say 5% margins, they are looking at what appears to be 22.7% margins for modules. A Q3 suggested ASP in the $0.25 range would yield an average cost of $0.1925/W at 23% margins. That is inline with their comments a couple quarters back that their costs were slightly under $0.20. If you look at a 10% “organic” reduction for 2020 on the $0.1925, they are at $0.173. The 20% reduction puts costs around $0.155. If you take the 10% cost reduction and target an ASP of say $0.21, you have 17.5% margins or midrange between your guidance and Q4 margins. Depending on ASP and actual costs you can see a bias to the upside for margins as more likely than a bias to the downside that you are suggesting
  2. 2 points
    A pretty good evidence how investing in solar has zero logical predictability. FSLR earning cents with PE of 60s and Canadian with market cap lesser than bankrupt Sunpower.
  3. 2 points
    And there's this: https://www.forbes.com/sites/jeffmcmahon/2019/10/29/huge-battery-investments-drop-energy-storage-costs-threaten-natural-gas-industry/amp/ Storage is the missing piece to really make the demand for renewables explode.
  4. 2 points
    We don't know that. Last quarter the company unexpectedly announced the sale of the Cove Mountain projects and Muscle Shoals. The company also shipped 1.4GW of panels but only accounted for around 600MW in sales. Perhaps some of the missing 800MW will be accounted for this quarter. Earnings could be all over the place and are not indicative of how the company is performing. The most important thing will be the updates regarding the factories. If yields improve from 91% to near 97% that would mean great things. And today's announcement seems to indicate the nameplate capacity has increased to 1.3GW due to the update mentioned last conference call. Also, the company hinted that the SCE plant sales could be pushed into 2020. If that happens then current year guidance would be lowered a bit. So to sum up, earnings could be all over the map but I am guessing the analysts probably overestimated the quarter again. Regardless, though, the long term outlook will likely get rosier due to the increased throughput.
  5. 2 points
    You missed my comments on capacity roll over. This industry is getting 4 years at best for use on Technology before it becomes non competitive. Right now in China Capex is around $100M per GW if you believe the data given in con calls. If you look at JKS expansion over the past 2 years it looks to be closer to $0.20 per watt .To do capacity expansions they need to spend in the range of $300-$500M annually. Right now they generate roughyl $100M a year cash from depreciation. Most companies are not pulling down another $200M+ in profits per year. Thus they are in a negative cash burn as they have been since the inception. That means they have to either dillute or take on debt or both. The both comment is in fact the case. Just look at JKS debt. They spun off the power unit in late 2016. In January 2017 they had 892M in debt. http://ir.jinkosolar.com/static-files/e557889b-2f96-4647-8383-683393c23d98 They now have added 5GW of Capacity and $1Billion in debt as of Q2. http://ir.jinkosolar.com/static-files/8b714b64-4236-4e82-904a-eb19a183faa0 Cash on hand in the same period grew from $400M to $700M. That places $700M net debt. . JKS also has done secondaries to the tune of a couple hundred million. They also have received a couple hundred million in cash generation from asset depreciations and another hundres + million in reported net profit. This basically points to taking on $1B in debt to pay for 5GW or capacity or $0.20 a Watt Capex. So while you say they are profitable, during what has been considered good times, they have burned $500M a year in cash to get to where they are. They are still going to burn cash as they have to constantly expand and expire capacity. As a result they will need to keep accessing the debt and equities markets. If this ever dries up, then they will be in trouble. The reasons STP LDK and YGE have gone under was their access to capital in China dried up and their ability to service the debt in China stopped.
  6. 2 points
    Well the RMB depreciated by 1.4% over the past week. You would expect to see the average ASP decline within that range. When you subtract out the 1.4% devaluation of the RMB, those drops do not look that bad. https://www.xe.com/currencycharts/?from=USD&to=CNY&view=1W Those numbers look very promising for downstream module producers. The trends are necessary to reach True grid parity with storage in most of the world and especially in China. By my estimates they are making Mono Perc modules for about $0.20 now. That is based on the $0.11 for Chinese Perc cells. That $0.23 China ASP with that manufacturing cost is 15% margins. That foreign average ASP of $0.25 is greater than 25% margins. The U.S. is the higher price range so even that market is likely more profitable than any market around even with the tariff. That U.S. market has surged and has price increases due to a rush to get projects in under the ITC planned reduction in 2020. Looking at those numbers, I only see positives for the next 6 months for the module manufacturers like CSIQ which had improved margins and JKS which is likely to beat their margin guidance.
  7. 2 points
    New CN policy looks to be targeting 2019 installations greater than 2018. Seems to set targets of around 45GW. http://guangfu.bjx.com.cn/news/20190219/963630.shtml According to the most conservative estimate, the installed capacity of photovoltaics will reach more than 45 million kilowatts in 2019, which has exceeded 44.26 million kilowatts in 2018 http://guangfu.bjx.com.cn/news/20190219/963637.shtml In 2019, the subsidized rated installed capacity will be calculated according to the current expected 3 billion subsidy scale (excluding poverty alleviation). The subsidy intensity of the power subsidy is 0.075 yuan/kWh, and the subsidy scale is about 35.9 GW. (When the power subsidy intensity is 0.05 yuan/kWh, the subsidy scale is about 53.8GW), and then consider 5GW photovoltaic poverty alleviation and 5GW unsubsidized projects, and deduct about 1GW of household occupancy index after 2018 531, 2019 The installed capacity of photovoltaics in the year may reach 45GW, exceeding the installed capacity of 44.3GW in 2018.
  8. 1 point
    Those numbers might be considered reasonable for Q3. Looking at Q4 Margins 18%-20.5% Revenues 1.17B-1.23B modules 4.2GW-4.4GW. 96% revenue modules again ASP = $0.27-$0.277 Cost = $0.22-$0.2215. If you take a .305 ASP Q3 Q4 ASP = $0.035*.9=$0.275 Q4 Costs = $0.275*0.795=$0.218 for low end cost Q4 Costs = $0.275*(.795)= $0.225 high end cost . They are targeting 20-25% GM for internal production next year. They suggest 16GW of internal production. They suggest market is growng >20% in 2019 Estimated market growth 24-30GW 15% market share of new growth = 3.6GW low end 4.5GW high end. 2020 Internal production 16GW(4GW per Q avg) A continued decline of 15% through the year places an ASP Avg ASP = $0.2745*0.85=$0.233 Internal Cost low = $0.233*.75 = $0.175 Internal High Cost = $0.233*.1866 Revenue = 16GW*.233= $3.73B 20% Internal margin Gross = $744M 25% Internal margin Gross = $933M 2GW added Opex = $40M $500M(2019Opex)+ $40M = $540M Interest $65M Opex/Interest = $540+$65=$605M Profit before taxes and adjustments low end $744-$605 = $139M Profit before taxes and adjustments High end = $933-$605 = $328M Internal production Average Gross = $235M My comments: This internal production costs sound quite reasonable of $0.175-$0.186. That higher end range is a penny below a CSIQ indicated cost for 2 quarters or so ago before Poly drops. Juicy profit upside for a $17/share price I might say as that does not have any project sales included or 1.6 -2.5GW 3rd party purchase sales.
  9. 1 point
    They made nearly a buck a share in Q3. They're guiding for better results, not worse, in Q4. All this during what are supposed to be life-threatening business conditions according to you. Yeah, I'm OK with THOSE numbers.
  10. 1 point
    2020 - FSLR with tariffs in place $3.3 2020 - Bifacial exemption lifted - $3.3 Impacts on earnings come 2021 if bifacial is removed $2 in EPS Impacts on earnings come 2021 if solar tariffs are removed $3 in EPS. As I have noted, the impact is over 3 years. An immediate removal will not cause an immediate impact. It's impact would be gradual over the next 2 years.
  11. 1 point
    It is Japanese project. See quote below and the link: "Huifeng Chang But the major portion of the potential like we provided two numbers for the Q3. Our revenue guidance and that difference is mainly for the project in Japan. Other projects we believe most likely will be closed in Q3. But for the project in Japan, we think, we may be very likely able to close it in Q3, but there's a probability it may slip into Q4." https://seekingalpha.com/article/4285939-canadian-solar-inc-csiq-ceo-shawn-qu-q2-2019-results-earnings-call-transcript?page=5
  12. 1 point
    So all the world's modules will one day be made by Longi... https://www.pv-magazine.com/2019/11/01/another-5-gw-of-module-capacity-for-the-longi-juggernaut/
  13. 1 point
    "While there is no indication of a much-trailed second-half boost in solar demand in China, overseas orders continue to persuade the big Chinese solar manufacturers to expand, with Risen the latest producer to report blossoming net profits of RMB783 million (€100 million) for the first nine months of this year, on operating income of RMB9.77 billion." https://www.pv-magazine.com/2019/10/29/german-supplier-fields-orders-for-10-gw-of-perc-cell-production-lines-in-three-months/
  14. 1 point
    Anyone else here a trader that keeps CNBC on all day? I do and there's been an abundance of chatter over the last few weeks/months (ramping up too) on ESG... Environmental, Social and Governance index funds and how that's the trend among millenials and even us older folks. They wanna invest in ESG companies that are making a difference. I set out in search of FSLR and CSIQ in particular in the most popular funds. Know what I found? Surprise, surprise, they're nearly non-existent. The most popular or the best performing (I forget which offhand) fund had ZERO solar companies in it. But who DID I find in it and in most of the large ones I looked at... Exxon, BP, Chevron... let me tell you how disgusted I was going through those fund holdings and seeing that. Let's hope these ESG funds are taking the selloff in all these names as an opportunity to buy in and help all of us make the world a slightly less bad place.
  15. 1 point
    I'd call barely breaking even over the past year floundering. That's not to say they aren't setting the stage for future performance--but that's what they said LAST quarter. And the one before that. And the one before that. One of these quarters, they're bound to be right. Even a stopped clock is right twice a day. (Well, once if you're on military time.)
  16. 1 point
    I think JKS and CSIQ will expand margins in Q3 & Q4 through a combination of cheap spot sourcing and high ASP module contract sales. However the honeymoon should be over when current contracts are worked through going into Q1 and on. At the latest in Q2 it should look very nasty on the module side if prices stay where they are right now... I don't see the possibility of prices recovering in the mid-term through a shake-out of Tier 2s and 3s. There's just so much overcapacity out there that things will stay nasty for a long while unless demand jumps above 150GW or so which will take a coupla years at least... JMHO, eager to hear what others think...
  17. 1 point
    Hmmm using that data sheet, the HiKu modules you are referencing are 10% smaller not 24% smaller using the make and model I mentioned. Using the specs in the installation manua(pg 26)l for the CSIQ module I identified being the CS3U-420PG-AG. I get 24% smaller and a smaller weight. https://www.canadiansolar.com/upload/f9acf4466d1e0c6f/87ce57c92c82e873.pdf The dimensions in your data sheets still have the CSIQ footprint as smaller and the module is still 30mm vs FSLR 49MM or FSLR is 50% thicker and is atleast 7 KG heavier than the CSIQ module And with the spec sheet I see the HIKU 420W Bi Facial module producing 462W @ 10% backplane power vs FSLR 420W . Based on dimensions of your module the CSIQ 420Module @10% generates backplane .2067W per 1000squareMilimeters while FSLR gnereates 0.168W in the same square millimeters. Looking at those power numbers you preset, the CSIQ module generates and astounding 21.9% more power in the same square meter than the FSLR module and they could generate more. but I chose the 10% backplane power. Oh and did I mention that was the second lowest power module on your data sheet. The 435W module in the same foot print generates more than 3% more power on top of the 420W per square meter vs the FSLR module. As for the rest, the thermal impacts, FSLR is better at -0.32 while CSIQ is at -0.37. That is not very much degredataion at higher heat for CSIQ and certainly not even close to the 22% more power generated in the same surface area. From what I see the specs of the CSIQ blows the doors off the FSLR for power generated per square meter and weight. Your data does nothing to support my suggestion of lower costs for builders who use CSIQ 420 modules. Like I said, FSLR was comparing their Series 6 to 5 to 7 year old Solar module tech to get their what 15% lower LCOE which is a false claim these days, come on Kloth, I know you can do better your not that far off your game are you?
  18. 1 point
    If energy prices in China go down 15% next year, then polysilicon and entire components chain (wafers, cell, modules) will be cheaper again. FSLR is in trouble. Not good :-((( https://www.pv-magazine.com/?utm_source=crossdomain&utm_medium=referral&utm_campaign=tabs
  19. 1 point
    I think JKS and DQ is dangerous to touch now, considering this: " Trump administration officials are considering ways to limit U.S. investors’ portfolio flows into China, including delisting Chinese companies from American stock exchanges and putting a limit on U.S. government pension funds’ exposure to the Chinese market." https://www.cnbc.com/2019/09/27/white-house-deliberates-block-on-all-us-investments-in-china.html Canadian Solar was smart to become Canadian. 🙂
  20. 1 point
    When it comes to data points and trends Kloth is generally accurate.
  21. 1 point
    Haha, ouch, that's Pete 2, Klothilde 0. Let's hear it queen of solar... take a deep breath... CSIQ should be the easy one you can say something positive about. No? Just give us one thing about one company. We'll all feel a lot better. I bet Pete will meet you halfway and say all that cash in the FSLR bank account is something to envy. Good stuff, hah.
  22. 1 point
    Pretty interesting. This sort of thing will only continue. https://www.forbes.com/sites/jeffmcmahon/2019/07/01/new-solar--battery-price-crushes-fossil-fuels-buries-nuclear/#727b67b05971
  23. 1 point
    Here you go, straight from the horse's mouth: "...And for the Q2, the gross margin is at the mid range of 14% to 15%, it’s relatively lower than Q1. And Q1, the gross margin is pretty good and exceeding our guidance. And for the Q2, it's basically because our new capacity is still in the construction stage and will not have contributing to the profitability in second quarter..." https://seekingalpha.com/article/4272691-jinkosolar-holding-co-ltd-jks-ceo-chen-kangping-q1-2019-results-earnings-call-transcript?part=single That puts them around break-even before adjustments in Q2 on my books. A forex gain may probably put some icing on the numbers.
  24. 1 point
    Koch brothers now using crows to destroy solar power plants: http://m.solarzoom.com/index.php/article/126902
  25. 1 point
    Total renewable energy capacity passes that of coal in the U.S. FERC projections that Renewables will supply 1/3 of the capacity in a few years. https://solarindustrymag.com/renewables-finally-beat-coal-for-u-s-electrical-generating-capacity For the first time, U.S. electrical generating capacity by renewable energy sources – biomass, geothermal, hydropower, solar and wind – has surpassed that of coal, according to a SUN DAY Campaign analysis of new data from the Federal Energy Regulatory Commission (FERC).
  26. 1 point
    I think you need to take with a grain of salt their stated costs. Typically costs are quarters end stated for internal production with current quarterly claimed margins. They have a large deferred revenue recognition with respect to their project builds and module acceptance periods of customers. This means that a large portion 30% or more could be from earlier builds as much as 6 months earlier when their costs were much higher than Q4 stated. For example it takes 1 to 2 months to freight ship. It could take another 1 to 2 months to get them installed. The contracts may also have acceptance clauses that require 6 months of running for baseline output. This suggests that a good portion of the quarterly recognized modules for revenues could be deffered from quarters back. Just look at Q1 where there revenue recognized modules were 1423MW and shipped is about 150MW more. As they mentioned they have over 900MW of EPC projects going on. That is the potential of 250MW a quarter in deferred sales until completed and acceptance. As they roll into more and more NTP this will be worse as will some of their major customer contracts like the recent 1.8GW contract. You also need to understand that not only is the deffered sales hitting their cost structure but it also props up the ASP. They are also being selective and selling to high margin markets and have built a direct sales team. These all lead to the higher ASP as well. The ASP was covered in a reply to Colin Rush.
  27. 1 point
    Approaching 50% return less than 4 months into the year. Nothing special in solar world, but this time my capital preservation strategy is better. After a long time of focus on asset allocation optimization and verification of Alpha and Beta return attribution I've recently focused more on return contribution analysis in order to verify that the allocation does not contain any poor contributors due to flawed strategy or tactic. I think that this continuous qualification of the strategy and tactic is key to long-term performance success. --- Goal Financial independence by 2030 Objective 15% annual return @ 25% volatility Strategy Rebalance optimal allocation Tactic Buy the dips and hold the rips Allocation Return
  28. 1 point
    I had been telling you that the costs being reported in ER's was not where current costs to manufacture were being headed. Now you have hard evidence that the cost to manufacture from the low wafer, cell and lamination price drops has pushed the cost down to $0.20. That cost point can easily be profitable at $0.25/watt that high efficiency poly is averaging according to PV insights. That $0.20 basically means they sell for 20% margins at what is the costs FSLR to produce their S6 modules at today. Their S4 module costs are even higher than your estimate $0.24-$0.25 FSLR has become a 1 trick pony selling into a protected subsidized market in which the subsidy will go away and competition will increase. I do not invest in companies that rely on a single market for 80%+ of their revenues. That never ends well.
  29. 1 point
    Looks like H2/2019 in China will be explosive: with about 15 GW PV installations per quarter... https://www.pv-tech.org/news/chinas-new-subsidy-programme-could-support-up-to-50gw-says-official
  30. 1 point
    Only what the web shows. The web suggests they are a 200MW facility that assembles the modules in San AntonioTexas. They use Asian sourced components. They shut down their 100MW cell late 2016 https://www.pv-magazine.com/2016/10/03/mission-solar-energy-to-close-texas-cell-lines-lay-off-87-employees_100026343/ There warranty is 4 to 12 years on mechanical assemby and 25 yrs on power degredataion http://www.missionsolar.com/wp-content/uploads/2019/03/MSE-PV-Module-Limited-Warranty-2018-2019-4BB-5BB.pdf They wholesale for around $0.70/watt https://www.bluepacificsolar.com/best-solar-panels.html It looks like they are a subsidiary of OCI lmtd, those same Multi National guys who make Poly in Seoul Korea. http://www.missionsolar.com/about-us/ They started up around 2014 and have panels installed in the Alamo1 power plant located in San Antonio area. https://newsroom.cpsenergy.com/made-san-antonio-solar-panels/ Hope this helps.
  31. 1 point
    I've lost count of how many times they have lied to investors. I buy their audited financial statements but not much more than that. That's just me.
  32. 1 point
    PEGI has been one of my better buys - steady climb and paying great divi
  33. 1 point
    You are reading the tea leaves wrong. They do not need a $2 spread in 2020. They needed a $2 spread at past 6KMT production levels. For 2019 they are guiding 37-40KMT. They will earn $1 a share on a $1.50 spread before subsidy payments and taxes. In October Nov they will have the Phase 4A starting trial production. They should be ramped 70KMT come January 2020(9 months for now). That 70KMT will produce around 80-90KMT of poly. At a $1 spread that is $80-$90M gross. SGNA is $8.2M today and might go to say $12M. Interest is $2M a Q. That is $56M expenses when 70KMT is ramped. They will earn $24-$34M before taxes adjustments and subsidies in 2020 based on a $1 spread. That is $2-$3 in earnings. For every $0.025 above that $1 spread they will gross an added $20M that goes straight to the bottom line. A $0.50 spread could add $3-$4 a share potential upside to $5-$7 a share in 2020. That and think what happens to FSLR with Poly cost and the rest of the CN costs dropping 30-40% over the next 2-4 years. That is what you should be worried about.
  34. 1 point
    energytrend says demand is weak: https://www.energytrend.com/pricequotes/20190307-13440.html
  35. 1 point
    I think they have positive earnings of a couple pennies before 1 timers I expect a $1.85 spread on cost to ASP. I am using a lower cost and volume than yours Gross comes in around $12.6M My Opex and Int are slightly higher at $12.2M Q4 though is not relevant. 2019 costs and guidance are. I expect Q1 to be the low for the year in earnings in the low double digits and increasing from there. I expect Q1 costs to be around $7.50 I expect costs to decline slightly from there with production ramps and optimization The second half of 2019 should be stronger as that is were the forecast in volume increases over the first half. This should lead to a slight rise in ASP int he second half even with the new capacity. From this I reasonably expect a full year profit of North of $2 a share. Disclosure: I do not own DQ.
  36. 1 point
    Q1 sales are generally announced near the end of Q1 or a couple weeks into Q2. They also are relying more and more on EPC contracted work from projects they did sell in the past before completed.
  37. 1 point
    I think he's referring to 2018 and their FY GM of 17.5% vs. original guidance of 22-23% in Dec. 2017. I don't know all the reasons, they had some extra costs in Q4 to finish the projects on time, but that's only one of several reasons probably. On a positive note revenue came very close to the lower end of guidance, EPS within the guidance range, and net cash above guidance. However I think pointing out their GM miss is like searching for a hair in the soup, as they say in my country. Good thing the CNs don't give you GM guidance because then you would find the whole wig in the soup.
  38. 1 point
    You are clueless. Went long csiq yesterday, minimum 6 month target 40s
  39. 1 point
    Chinese city wants 700 MW of new solar within two years: The announcement from the city authorities comes in the wake of the central government’s call for local authorities, electricity companies and big lenders to remove roadblocks to what it designated ‘grid-parity’ PV projects, by which it meant installations which did not benefit from central subsidies but which could be encouraged by local incentives. https://www.pv-magazine.com/2019/02/14/chinese-city-wants-700-mw-of-new-solar-within-two-years/
  40. 1 point
    I expect them to meet or slightly beat, though I haven't looked at the numbers in detail. They are basically sold out for the next two years at fixed prices, so imo that leaves little room for EPS surprises either up or down. Two positives are that prices in the U.S. are holding up well (despite the ominous 2.5GW quota for foreign cells) and that S6 certification is progressing as planned: https://www.pvinfolink.com/post.php?sn=2 https://investor.firstsolar.com/news/press-release-details/2018/First-Solar-Series-6-Completes-CSA-C450-Test-Protocol-at-CSA-Groups-PV-Test-Lab-CFV-Solar/default.aspx Imho FSLR will be quite boring over the next several quarters because they are transparent and predictable. If you prefer a roller coaster with 50% swings then I'd suggest to stick with the CNs.
  41. 1 point
    I can see the past year has turned you into a more bitter fellow, which is unsurprising given the poor performance of most solar stocks but this needen't be the case in the coming years. I'm very grateful to this forum, specially Robert and H20 since I learnt a lot from both of these members and had large profits with Daqo in 2018. I just wanted to share my view that I believe it is probable that the solar sector is making another turn to the upside and long term bets could produce ample profits in the future. Solar still only ptovides 0.6% of the world's energy consumption, the growth potential is huge and CSIQ is in a great possition to capitalize it.
  42. 1 point
    I would be concerned about JKS. They are the guarantor of the debt they spun off with the New Energy spinoff. A very large portion of those projects were not in the catalog and not getting the FIT payments.
  43. 1 point
    If your math is correct, they'd be smarter to just shut down their business right now.
  44. 1 point
    GP $620-$700M. Opex $430M+/- Interest $100M+/- ASP $0.27 CPW $0.235(13%GM) on 8GW shipments for revenues The wild card are project sales revenue , power revenues and EPC revenues. Project 130MW Japan @ 3.30 @ 30%GM 700MW @ 1.2/W @ 12.5%GM Power Revenues/Dividend Incomes $40M @ 50%GM EPC $150M @ 15%GM
  45. 1 point
    China unveils an ambitious new push on grid parity solar https://www.pv-magazine.com/2019/01/10/china-unveils-an-ambitious-new-push-on-grid-parity-solar/
  46. 1 point
    PVInfolink starting the year showing a breakdown of regional module prices. U.S. module prices very robust, 32 cts for multi and 38 for mono PERC. Kudos to FSLR. https://en.pvinfolink.com/post.php?sn=2
  47. 1 point
    Happy new year to y'all 😊 From this article I'm getting a vibe that U.S. utility demand will be humongous over the next years. That bodes well for FSLR: https://pv-magazine-usa.com/2019/01/01/solar-tsunami/
  48. 1 point
    Good god they have a PT of 58 USD and my glass ball has them in the single digits. I should revisit my assumptions when I have some time. Can I be so off?
  49. 1 point
    Me thinks it's decent. Almost $4 in the high end if you take out start-up and ramp. I thank thee o father for it could have been worse.
  50. 1 point
    Except that Chinese solars haven't traded at valuations equivalent to their US peers in what? Over a decade? Why should that change now? Don't get me wrong--I still have shares from the mid-30s, so I'd love to see these stock prices. But it will have to be from earnings, not an increase in P/E. And that's still 2+ years away.

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