Zacks Investment Research upgraded shares of JA Solar Holdings Company Ltd. (JASO) from NEUTRAL to OUTPERFORM on June 26, 2014, with a target price of $13.00.
We upgraded our recommendation on JA Solar Holdings Co. Ltd to Outperform from Neutral on the back of the company's stellar results in the first quarter of 2014. Both earnings and revenues breezed past the Zacks Consensus Estimate. The performance was driven by increased sales and higher shipments. Global solar installations are expected to witness double-digit growth in the coming years driven by the bullish solar fundamentals in the Chinese market. The government's pro-environment policies that aim at boosting renewable energy as a source of power generation will drive future prospects for core PV manufactures like JA Solar. In addition, the company's efforts to venture into the downstream solar markets will open greater window of opportunities in the long term.
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