Zacks Investment Research upgraded shares of JA Solar Holdings Company Ltd. (JASO) from UNDERPERFORM to NEUTRAL on December 08, 2014, with a target price of $9.75.
We upgrade our recommendation on JA Solar Holdings Co. Ltd to Neutral from Underperform based on strong third quarter 2014 results. The company reversed its year-ago loss in the reported quarter as its shift in focus to solar modules from cells paid off. Its total shipments grew 57% from the year-ago period attributable to a 127.4% increase in module shipment. The Chinese government's pro-environment policies that aim at boosting renewable energy as a source of power generation will drive the prospects of core PV manufactures like JA Solar. However, the latest anti-dumping policies slapped by the U.S. could pose challenges to JA Solar's profitability. Moreover, the soft market conditions in Europe's PV industry could impact the company's sales.
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