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Politics : Rat's Nest - Chronicles of Collapse
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To: Bill on the Hill who wrote (1475)8/5/2005 1:28:33 AM
From: Wharf Rat   of 24225
 
Evergreen Solar Could Benefit From U.S. Energy Bill
08.03.05, 4:21 PM ET

Evergreen Solar

SG Cowen recommended investors buy shares of Evergreen Solar (nasdaq: ESLR - news - people ), citing a political climate that favors the solar energy market. The research firm said the U.S. Energy Bill includes federal tax credits for solar energy that should help raise awareness and add to state-level programs. In addition, the solar markets in Germany and Spain look favorable, according to the research firm.

"We believe investors should focus on the strategic developments that will fuel top-line growth and increased margins in the future," SG Cowen said. The research firm said thin-ribbon technology now has achieved the same yields as current technology and could offer Evergreen upside in margins. Evergreen has also begun construction on a German joint-venture plant that should begin production by the second quarter of 2006 and reach full capacity by the second half of that year.

In the second quarter, Evergreen beat revenue estimates and saw its gross margins increase despite a weaker euro. The loss per share of 7 cents was a penny wider than SG Cowen's estimate, due partly to slightly higher operating expenses.

forbes.com
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