April 22nd is a day devoted to green, a day where people take a moment to appreciate the world around them by celebrating Earth Day. But being green (and having green) does not have to be restricted to one day. Solar companies, who are using the sun’s rays in order to produce energy here on Earth, are advancing technology in order to minimalize our environmental impact. Robert W. Baird analyst, Ben Kallo, recognizes the strength in these companies and is recommending green and making lots of green.
Ben has a history recommending solar companies such as SolarCity Corp (NASDAQ:SCTY) and First Solar, Inc. (NASDAQ:FSLR), earning him a spot as the number 16 analyst out of 3017 analysts, with a +14.1% average return over S&P-500 and a 64% success rate of recommended stocks. To learn about all of Ben’s recommendations, download TipRanks.
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Ben recently recommended BUY SolarCity Corp (NASDAQ:SCTY), with a price target of $75. Ben sees now as a perfect time to BUY, arguing, “SCTY’s pullback of approximately 35% since Feb. 27 provides an excellent buying opportunity, in our view, on the stock most levered to the U.S. rooftop market, which will likely undergo a boom over the next several years.” The company has also reduced costs, strengthening its position in the solar market and “innovative financing products, such as solar ABS’, provide relatively low-cost capital for SolarCity Corp (NASDAQ:SCTY) to capitalize on the expansive U.S. greenfield opportunity”. This recommendation has already earned Ben +0.4% over S&P-500.
Ben saw another strong return when he recommended BUY SolarCity Corp (NASDAQ:SCTY) in January of this year. Ben reiterated his BUY rating and named SCTY as his “favorite pick for 2014”. The demand for solar energy was increasing and “SolarCity opened up 10 operating centers in Northern California”. Ben noted that SCTY “had approximately 26.2% of the U.S. solar market in 2Q13, a higher percentage than the combination of the next eight competitors.” And he added that, “the company is expecting an approximate 80% growth at the midpoint of 2014.” Ben earned +9.9% over S&P-500.
Ben has seen similar success recommending First Solar, Inc. (NASDAQ:FSLR), including his February 2014 recommendation to BUY First Solar, Inc. (NASDAQ:FSLR). Ben termed the company as a “best in breed” based on the company’s “leadership in building utility scale solar, continued cost/efficiency improvement in technology, and its balance sheet which should provide growth optionality moving forward”. Ben believed that “as a low-cost leader, First Solar should be able to capture significant market share,” and Ben ended up earning +22.7% over S&P-500!
However, there have been a few times when Ben recommendations have not been as successful, such as his BUY Sunpower Corporation (NASDAQ:SPWR) in March. Ben argued that SPWR was “best positioned to enter Mexico, South America, some part of Africa and also China”. Ben felt that these new markets could “meaningfully contribute to Sunpower’s business over the next one to three years.” Ben felt that the Street wasn’t appreciating the stock enough, and pointed out that the company was “on track to cut costs by more than 35%.” However, Ben ended up with -14.9% over S&P-500, but this recent recommendation is still open and has time to turn around and add to his impressive recommendation history.
After Earth Day will you turn to green companies to make more green? To continue following Ben’s green recommendations, be sure to download TipRanks, and start making informed financial decisions with advice you can trust.