Barron's Solar Stock Plays
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Date updated:07-19-2008

Those who place the right bets on solar energy could make a fortune -- but beware the storm clouds that loom over this burgeoning industry.

symbol name last price % change open
  • +
  • SPWR
    Sunpower Corporat
  • $85.74
  • +0.62%
  • $84.67

Charles Boucher, a former semi analyst who now runs Boucher-Lensch, a boutique investment bank based in Sunnyvale, Calif., advises sticking with vertically integrated companies, with less exposure to any single element of the industry's cost structure. (Like poly, say.) Ergo, he likes SunPower (SPWR), which in addition to making the industry's highest-efficiency cells, owns an integration and installation arm called PowerLight. SunPower, highlighted in our solar story of 2005, is up about 180% since its initial public offering later that year.

People owning SPWR also tend to own: BTUFWLTGRMNJOETWIAAPLCY

TheStreet.com Rating: C What is this?

  • +
  • CSIQ
    Canadian Solar In
  • $27.82
  • +0.98%
  • $26.91

Boucher also likes some Chinese solar companies, including Canadian Solar (CSIQ), Suntech (STP) and Yingli Green Energy (YGE). For a bet on the U.S. installation business, he notes, the pure play is Akeena Solar (AKNS), though it has the most to lose if Congress fails to extend the solar tax credit.

People owning CSIQ also tend to own: CMGIGSSHYGSKADONTREVSFE

TheStreet.com Rating: C What is this?

  • +
  • STP
    Suntech Power Hld
  • $43.27
  • +4.04%
  • $40.98

Boucher also likes some Chinese solar companies, including Canadian Solar (CSIQ), Suntech (STP) and Yingli Green Energy (YGE). For a bet on the U.S. installation business, he notes, the pure play is Akeena Solar (AKNS), though it has the most to lose if Congress fails to extend the solar tax credit.

People owning STP also tend to own: AMATAMTAMXBIDUFMCNKRYRACK

TheStreet.com Rating: C- What is this?

  • +
  • YGE
    Yingli Grn Engy A
  • $15.31
  • +3.17%
  • $14.84

Boucher also likes some Chinese solar companies, including Canadian Solar (CSIQ), Suntech (STP) and Yingli Green Energy (YGE). For a bet on the U.S. installation business, he notes, the pure play is Akeena Solar (AKNS), though it has the most to lose if Congress fails to extend the solar tax credit.

People owning YGE also tend to own: AAPLBIDUCROXEMCGEHLYSIIG

TheStreet.com Rating: No Rating What is this?

  • +
  • AKNS
    Akeena Solar Inc
  • $3.90
  • +2.63%
  • $3.80

Boucher also likes some Chinese solar companies, including Canadian Solar (CSIQ), Suntech (STP) and Yingli Green Energy (YGE). For a bet on the U.S. installation business, he notes, the pure play is Akeena Solar (AKNS), though it has the most to lose if Congress fails to extend the solar tax credit.

People owning AKNS also tend to own: AAPLABBBIDUCCCCNOA.OBCOGOCPNLQ.PK

TheStreet.com Rating: D What is this?

  • +
  • WFR
    Memc Electronic M
  • $40.19
  • +1.29%
  • $38.95

Lehman analyst Vishal Shah has a contrarian take on MEMC; he thinks the shares are already discounting a big drop in poly pricing.

People owning WFR also tend to own: ABKBBDCFCDEFCXFREFWLT

TheStreet.com Rating: B- What is this?

  • +
  • FSLR
    First Solar
  • $236.01
  • -0.47%
  • $231.61

Shah also likes First Solar (FSLR), the solar play with by far the largest market cap. Among its charms: It has no poly exposure, because it uses a compound called cadmium telluride for its solar panels. Ries notes that First Solar has far lower costs per kilowatt hour than its silicon-based competitors; at current poly prices, he says, "it's not a fair fight." Not until polysilicon drops to $70 per kilogram, he says, do the comparative economics for First Solar "get strained."

People owning FSLR also tend to own: CNXTEWZIFNIFUE.OBMMCAAPLADM

TheStreet.com Rating: C What is this?

  • +
  • JASO
    Ja Solar Holdings
  • $15.54
  • +5.93%
  • $14.45

JA Solar (JASO), which makes solar cells, could double capacity without accessing the capital markets, Shah says.

People owning JASO also tend to own: ALYBTJUXGABBHPBIDZBMRN

TheStreet.com Rating: D+ What is this?

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