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JA Solar Holdings Co., Ltd. (NASDAQ:JASO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. The firm currently has a $13.00 target price on the stock. Zacks‘s price objective points to a potential upside of 21.16% from the company’s current price.

Zacks’ analyst wrote, “We upgraded our recommendation on JA Solar Holdings Co. Ltd to Outperform from Neutral on the back of the company’s stellar results in the first quarter of 2014. Both earnings and revenues breezed past the Zacks Consensus Estimate. The performance was driven by increased sales and higher shipments. Global solar installations are expected to witness double-digit growth in the coming years driven by the bullish solar fundamentals in the Chinese market. The government’s pro-environment policies that aim at boosting renewable energy as a source of power generation will drive future prospects for core PV manufactures like JA Solar. In addition, the company’s efforts to venture into the downstream solar markets will open greater window of opportunities in the long term. “

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of JA Solar Holdings Co., Ltd. in a research note on Monday. They set a “neutral” rating on the stock. Separately, analysts at TheStreet downgraded shares of JA Solar Holdings Co., Ltd. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 11th. Finally, analysts at TheStreet upgraded shares of JA Solar Holdings Co., Ltd. from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $15.00.

Shares of JA Solar Holdings Co., Ltd. (NASDAQ:JASO) traded up 1.13% on Thursday, hitting $10.73. The stock had a trading volume of 1,567,666 shares. JA Solar Holdings Co., Ltd. has a 52 week low of $6.83 and a 52 week high of $13.14. The stock has a 50-day moving average of $10.00 and a 200-day moving average of $9.9. The company’s market cap is $490.9 million.

JA Solar Holdings Co., Ltd. (NASDAQ:JASO) last announced its earnings results on Thursday, May 8th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.26. The company had revenue of $366.00 million for the quarter, compared to the consensus estimate of $330.54 million. During the same quarter in the prior year, the company posted ($0.85) earnings per share. The company’s quarterly revenue was up 35.7% on a year-over-year basis. On average, analysts predict that JA Solar Holdings Co., Ltd. will post $1.35 earnings per share for the current fiscal year.

JA Solar Holdings Co, Ltd. (NASDAQ:JASO) is engaged in the business of designing, developing, manufacturing and selling solar cell and solar module products.

To view Zacks’ full report, visit Zacks’ official website.

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