JPMorgan’s (NYSE:JPM) New Area of Interest

The Solar and alternative energy stocks are expected to get hit the hardest in market sell-off. But one’s bad luck could be an opportunity for the other. These stocks are part of the high beta category, hence; it comes as no surprise when big name investors like JPMorgan (NYSE:JPM) are keen to buy these traded down stocks.

Researchers have high hopes tied to the future of the solar fundamentals. They are very hopeful that items like global photovoltaic and solar gigawatt are still strong, and their growth is solid in parts of China and Japan. They also don’t believe that the demand and supply of these products is much affected. They are seeing an opportunity in the Bloomberg solar index being down by 13%. They could now purchase these stocks at much lower prices than before.

The stocks that the company is interested in are:

Canadian Solar Inc (NASDAQ:CSIQ), which is among the world’s largest and foremost solar power company. Canadian Solar caters to solar product and power plan needs in Europe, Africa, North America, South America, Middle East, Australia and Asia. It has also sold over 6 GW solar modules to customers in 70 countries. JPMorgan (NYSE:JPM) analysts consider this company their number one choice, with expectations of impressive third quarter figures. JPMorgan (NYSE:JPM) has set price objective of $41 per stock. On Thursday the market closed at a low $28.11 per share.

Next in line is the First Solar Inc (NASDAQ:FSLR). This company deals in two areas. Firstly, components design and manufacture and also sales of solar modules. Its best seller is the CdTe module, used in conversion of sunlight into electricity for different areas of project development, system integrators and operators of PV solar power systems. The Systems segment caters to providing PV solar power solutions for engineering, procurement and construction, operating, maintenance and other investor’s service, independent power developers, commercial and industrial firms and also PV solar power owners.

JP.Morgan has its eyes set on a target price of $76, whereas the consensus target is at $67.50. But Thursday closing was at $53.99.

SolarCity Corp (NASDAQ:SCTY) is the next name being considered. This company has a monopoly in roof-top solar services. The company is best suited for those who aren’t willing to take risks. But it’s also predicted that the cost in the long run will increase. At this stage JPMorgan (NYSE:JPM) set its objective of $74 per share. Whereas the shares closed at $50.81.

SunPower Corp (NASDAQ:SPWR) offers solar power products like panels and other components and invertors. It’s a big name in designing and manufacturing roof top and ground mounted solar power and photovoltaic power plants. The company also offers additional services like maintenance, remote monitoring, inverter repair and outage restoration. The price objective is $43, which is much higher than the closing trade on at $29.15.

These are ideal times for investors to buy solar stocks as the prices are low and demand is high in both commercial and residential sectors.