Solar Stocks Strong After a Week in the Red

• By the tickerspy.com Staff
• On 10:41 am EDT, Monday October 26, 2009

Are Chinese solar stocks cheap enough yet?

Chinese solar stocks are up across the board today after getting punished last week. Analyst Collins Stewart reiterated its Buy ratings on Canadian Solar (NASDAQ: CSIQ - News), Trina Solar (NYSE: TSL - News), and Yingli Green Energy (NYSE: YGE - News) today after indications that the German government won't be calling for solar tariff cuts.

Canadian Solar is leading the sector's rally today on the analyst's optimism, and an announcement that two of its solar module series set new record PV USA ratings.

As a whole, the Chinese Solar Stocks Index is higher by 1.8% today. All nine components were negative last week.

Over the last month, LDK Solar (NYSE: LDK - News), ReneSola (NYSE: SOL - News), and Suntech Power Holdings (NYSE: STP - News) have all slipped by more than -10%. Meanwhile, only Trina and Yingli are positive for the period.

The sector could be among beneficiaries of a potential U.S.-China clean technology alliance. According to the Financial Times, Duke Energy (NYSE: DUK - News) isn't waiting for negotiations. The Charlotte, North Carolina-based company announced plans to collaborate with ENN Group, which according to its website is China's "most successful privately owned clean energy company" with 2008 revenue of $2.8 billion.

As of this writing, the Chinese Solar Stocks Index is one of the 60 worst-performing tickerspy Indexes over the last month, trailing the S&P 500 by more than -5%.

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