SolarCity (SCTY) and Sunrun (RUN) are prepped for a bare-knuckle slugfest over 2016 installations, but the skies are clear for First Solar (FSLR) and SunPower (SPWR), a Barclays analyst said Friday. First Solar topped Barclays analyst Jon Windham’s solar update, and shares soared 5.5% midday. SunPower stock, too, flew up 9% in early trading on the stock market today and settled back to about a 6.5% rise by early afternoon. Windham raised his price
U.S. solar installations are expected to grow 10% in 2016, down sharply from prior forecasts for a 40%-50% boom, but companies such as SolarCity (SCTY), Sunrun (RUN) and SunPower (SPWR) are celebrating. Why? The reason for the forecast cut is that in a last-minute accord among politicians in December, Congress extended the Investment Tax Credit (ITC) on solar installations through 2023 in exchange for lifting a 40-year ban on U.S. oil exports. The
Solar-related stocks rallied Wednesday on the news that Congress plans to extend a solar investment tax credit by five years. First Solar (FSLR), SolarCity (SCTY), SunEdison (SUNE), SunPower (SPWR) and Sunrun (RUN) led the gains. Not only are their double-digit share-price increases substantial, they’re also significant: First Solar jumped 10% in big volume, gapping above a 59.95 buy point and hitting its highest level in 15 months. SolarCity