FSLR - Solar names sizzle as Jefferies touts 'revolution for a decarbonized world'

Daqo New Energy (DQ +11.0%) rockets higher after Jefferies initiates coverage as its top solar energy selection, with a $139 price target with a potential upside to $208 - which would represent a nearly 4x jump over current levels. Jefferies' upbeat comments are lighting up the entire solar sector: SUNW +13.4%, SPWR +11.5%, JKS +8.3%, MAXN +8.3%, SEDG +7.9%, RUN +7.2%, ARRY +6.2%, ENPH +6.1%, CSIQ +5.4%, NOVA +5.3%, FSLR +5.1%, TAN +5%. "The solar industry will continue to be constrained by poly supply in 2022 with price staying high," Jefferies analysts write, expecting 25% growth in PV installations "if module prices correct to 2020 levels of ~RMB 1.6/W, unleashing demand suppressed by high price in 2021 and stimulating sales for inverters and trackers." Jefferies also notes companies are "actively pursuing capacity upgrades, leading to severe overcapacity risk in most of the downstream segments."

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Solar names sizzle as Jefferies touts 'revolution for a decarbonized world'