Raymond James analyst Pavel Molchanov maintained a Buy rating on Renesola (SOL) today and set a price target of $14.50. The company’s shares closed last Friday at $10.76.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 13.7% and a 59.5% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Renesola with a $14.50 average price target.
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Renesola’s market cap is currently $774.4M and has a P/E ratio of -10.50. The company has a Price to Book ratio of 7.86.
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ReneSola Ltd. engages in the manufacture of solar wafers and modules. It operates through the following segments: Wafer, Cell and Module, and Solar Power Projects. The Wafer segment includes manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services. The Cell and Module segment involves in the manufacture and sale of PV cells and modules. The Solar Power Projects segment offers solar power project development, EPC services, and electricity. The company was founded on March 17, 2006 and is headquartered in Putuo District, China.
