NEW YORK (TheStreet) -- Shares of JA Solar Holdings (JASO) are higher by 1.37% to $9.63 on heavy volume in afternoon trading Wednesday after China raised its 2015 solar energy target in an effort to clear its polluted air, according to Bloomberg.
China, the world's biggest emitter of carbon, promised to add almost 2.5 times as much capacity as the U.S. added last year, Bloomberg added.
China plans to install 17.8 gigawatts of solar projects in 2015, higher than the 15 gigawatts the National Energy Administration had estimated, Bloomberg noted.
This morning, analysts at Roth Capital issued a note saying China may soon increase its 2020 solar energy target too.
The firm said investor sentiment towards the sector has become more upbeat, and maintained its "buy" rating on shares of JA Solar Holdings.
About 2.01 million shares of JA Solar have exchanged hands as of 1:33 p.m. ET today, compared to its average trading volume of about 1.76 million shares a day.
China-based JA Solar is engaged in the business of designing, developing, manufacturing and selling solar cell and solar module products.
The company is also engaged in the manufacturing and sales of solar cells.
Separately, TheStreet Ratings team rates JA SOLAR HOLDINGS CO LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate JA SOLAR HOLDINGS CO LTD (JASO) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself."