UPDATE: Brean Murray Color On SOL Initiation

Brean Murray, which initiated Renesola Ltd. SOL at Buy with a $15 PT, is providing some commentary on the stock. “Renesola operates primarily as a wafer producer that is gradually integrating upstream with its poly capacity ramp that could near-term achieve a $35 per kg rate by year-end, representing a 20-35% discount to current cost levels,” Brean Murray writes. “We believe that its silicon-related cost strategy represents a meaningful competitive advantage vs. peers.” Renesola closed Wednesday at $10.18.