New Life in Solar Stocks

Positive analyst comments from Cowen & Company today pushed solar stocks higher. The firm reiterated its outperform rating on several solar companies, including some Chinese solar companies (*):

Energy Conversion (ENER), Evergreen Solar (ESLR), First Solar (FSLR), Hoku Scientific (HOKU), SunPower (SPWR), Suntech Power (STP)*, and Trina Solar (TSL)*.

Analyst Rob Stone said legislation in the U.S. to extend tax credits for renewable energy may be introduced in the Senate on April 22nd this year with a better chance for passage. He also noted that concerns about the supply of silicon should subside in the second half of the year with more output from new plants and more settled prices. Political support for renewable energy should continue in Spain as well as in Germany, two important long-term markets for solar power.