Jinko Solar Holding (JKS)

[realfast95]

I no longer have interest in solar. Today I posted a comment on $YGE based on the value of their land got a boost.
Below is CS analyst report on JKS

Strong 1H17 in China Drives Guidance
¦
Bottom line –guidance hinges on strong China demand in Q2:. Jinko Solar
reported Q4 non-GAAP earnings beat ($1.04 vs CS/cons $0.37/$0.65) due to
higher than expected volumes, lower interest expense and a tax benefit. The
company guided 2017 module shipments to grow 31% y/y, driven by
management's expectations of a strong demand in China (30 GW vs our
forecast of 20 GW). We believe shipment growth hinges on strong China
demand in Q2 as demand is 1H weighted ahead of FiT cuts (declines 13-
18% after June 30th), while Q1 is seasonally weak due to Chinese new year.
Nevertheless, shipment growth implies that the company will capture module
market share (from 9.4% in 2016 to 13.5% in 2017) in a shrinking market (CS
forecasts an 11% decline in solar demand y/y in 2017), due to industry
leading module costs and a higher share of high efficiency products. We
increase our 2017/18 earnings estimates to $2.34/$2.42 due to higher than
expected shipments. Our TP of $20 reflects a 8.5x P/E on our 2017 EPS
estimate (in line with historic highs in 2014/15). Key risks are industry
oversupply, demand weakness due to policy uncertainty, and cost trajectory