On Dec 15, Zacks Investment Research upgraded producer and supplier of photovoltaic products JinkoSolar Holding Co. Ltd. JKS to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
JinkoSolar has been witnessing rising earnings estimates, thanks to its strong performance in the third quarter of 2015. Moreover, the company has delivered positive earnings surprises in 3 of the last 4 quarters with an average beat of 32.4%. The long-term expected earnings growth rate for this stock is 18.0%.
Robust earnings performances through the most part of 2015 and focus on a global level, to harness sunrays to produce green energy, continue to boost the company’s prospects. JinkoSolar’s fourth-quarter and 2015 Zacks Consensus Estimate has gone up by 3.8% and 19.8% respectively, over the last 90 days.
The high quality of the products supplied by JinkoSolar ensures regular orders from its worldwide customer base. The company expects its total solar module shipments in the fourth quarter to be in the range of 1.4 GW to 1.7 GW, which includes 1.2 GW to 1.4 GW module shipments to third parties. For 2015, JinkoSolar forecasts its total solar module shipments in the range of 4.2 GW to 4.5 GW, which includes 3.8 GW to 4.0 GW module shipments to third parties.
This premier solar photovoltaic product manufacturer is well positioned to benefit from the solar-powered electricity generation goal of China, India and Japan. In addition, demand from North America is also likely to boost its performance, going forward.
Some other favorably ranked stocks in the alternate energy space are JA Solar Holdings Co., Ltd. JASO and ReneSola Ltd. SOL, both sporting a Zacks Rank #1(Strong Buy) and Canadian Solar Inc. CSIQ, carrying a Zacks Rank #2 (Buy).
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