NEW YORK ( TheStreet) -- Applied Materials (AMAT - Get Report), First Solar (FSLR - Get Report), MEMC (WFR), GT Solar International (SOLR), Canadian Solar (CSIQ - Get Report) and SunPower (SPWRA) are solar stocks with buy ratings of 80%, as per Bloomberg estimates.
We recommend six solar stocks that outperformed their Chinese peers and the broader indices to gain an average 28% in the last one year. Solar stocks buoyed, riding on firm crude prices in the recent past. Further, analysts expect these stocks to deliver earnings of 15% to 20% in the next one year. In comparison, Chinese stocks could see flat earnings growth.
Analysts cut the earnings estimates of China's solar stocks recently, paring the earnings estimates of Jinko Solar (JKS) and ReneSola by 5% each for 2011. During the last couple of months, the target prices of Sunpower and GT Solar were raised, while that for Chinese Stocks LDK Solar (LDK), Yingli Green Energy Holding (YGE), JA Solar Holdings (JASO), Trina Solar (TSL) and ReneSola (SOL) have been revised downwards.
The following six solar stocks have buy ratings of 26%-80% and are expected to gain up to 33% over the next 12 months with a mean upside value of around 22%, according to analysts polled by Bloomberg.