The Zacks Analyst Blog Highlights: General Growth Properties, RetailMeNot, Simon Property Group, Macerich and Canadian Solar

Zacks

For Immediate Release
 
Chicago, IL – April 24, 2014 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the General Growth Properties, Inc. (GGP-Free Report), RetailMeNot, Inc. (SALE-Free Report), Simon Property Group Inc. (SPG-Free Report), Macerich Co. (MAC-Free Report) and Canadian Solar Inc. (CSIQ-Free Report).
 
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Here are highlights from Wednesday’s Analyst Blog:

General Growth, RetailMeNot Join for Digital Coupon

In order to boost customers’ shopping experience, General Growth Properties, Inc. (GGP-Free Report) strategically joined forces with the world’s leading digital coupon provider, RetailMeNot, Inc. (SALE-Free Report), for availing digital coupon facilities across its properties.

Chicago-based General Growth Properties operates several renowned malls across the U.S such as Tysons Galleria (Washington), Water Tower Place (Chicago), and Ala Moana Center (Honolulu). This choice of RetailMeNot as a preferred digital coupon provider is a strategic fit for General Growth Properties and is aimed at increasing footfall at its properties.

Moreover, the availability of such services would help General Growth Properties to prosper in this era of advanced technology in the retail arena. The deal is expected to enhance sales volume at the tenant stores, consequently boosting the demand for the mall properties.

Notably, with the rise in online shopping, the competition has intensified among physical and online retailers and General Growth Properties has been seeking opportunities to combat this competitive pressure through opportunistic partnerships.

Consequently, in December, General Growth Properties collaborated with Deliv to offer same-day delivery service to retailers. Though initially available in select malls, this deal facilitates the company to leverage on its nationwide properties and use them as distribution centers. Other mall operators – Simon Property Group Inc. (SPG-Free Report) and The Macerich Co. (MAC-Free Report) – joined forces with Deliv for a similar deal.

General Growth Properties is scheduled to report its first-quarter 2014 results on Apr 28, after the closing bell. The Zacks Consensus Estimate for first-quarter FFO is currently pegged at 30 cents per share, reflecting a year-over-year increase of 18.9%. Currently, the company carries a Zacks Rank #2 (Buy).

Canadian Solar to Supply PV Modules to Japan
 
One of the leading solar product manufacturers, Canadian Solar Inc. (CSIQ-Free Report) secured a contract for the supply of 43 Megawatt (MW) of photovoltaic ("PV") modules to Japan’s second biggest solar plant project.
 
Initiating supply starting next month, the company expects to complete the contract in Feb 2015. Per the contract, Canadian Solar will deliver nearly 168,300 units of its 60 cell high efficiency CS6P255P modules with a power output of 255 Watt-peak.
 
The contract will help Canadian Solar to increase its presence in the emerging renewable markets of Asia. Japan is a prospective major customer, having nearly doubled its solar installations in 2013. In the wake of the 2011 Fukushima nuclear disaster, the country deactivated all its nuclear reactors. This drove Japan to invest heavily in renewables to make up for its energy requirements.
 
In the recent past the global solar market was weighed down by a supply glut and falling average selling prices. Last year, the solar space recovered sharply from the lows and the trend is expected to continue in 2014 as well with improving supply-demand dynamics. This bodes well for core solar players like Canadian Solar.
 
Countries like Japan, China and India will be key solar demand drivers in the years ahead. Canadian Solar fully intends to capitalize on the positive market fundamentals.
 
Beginning 2014, the company clinched numerous contracts from the three above mentioned Asian countries. These include an 18MW PV module delivery contract from Hitachi Ltd in Japan and a 2.1 MW PV module supply contract for a solar plant in India.
 
In addition, Canadian Solar is exploring the downstream solar market in China. The company’s business wing CSI Solar Power (China) Inc. successfully completed the grid connection of a 10 MW solar power facility in the Jiangsu Province of China in Jan 2014.
 
The company is poised to gain from the rapid upswing in the global solar PV industry in the next five years as installed capacity is expected to reach 500 Gigawatts by 2018 as per the report. The solar industry is projected to generate revenues worth $200 billion in the period 2014 − 2018.

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