June 3, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,605/ton = $5.18/kg) – down 0.3% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
June 3, 2026
Bottom Line We reiterate our BUY rating on Nextpower (“NXT”) and raise our year-end 2026 price target to $149.44 (from $147) to reflect the strategically sound, accretive acquisition of Prevalon Energy. We do so, however,…
June 2, 2026
Volumes rebounded to 208MW. Tesla’s storage share snapped back to 61%, fully retracing the February dip. And the inverter duopoly has split cleanly in two — Enphase owns what’s left of residential, SolarEdge survives only…
June 1, 2026
Modine Manufacturing’s recent F4Q update saw the OEM raise its LT 2028 guidance beyond its current capacity while announcing a volume commitment with an existing hyperscaler customer. We spoke to private co-vendors and competitors to…
June 1, 2026
We review the possible strategic implications of this morning’s announcement of Vera Rubin product cooperation with Siemens (SIE GY, not rated) and Fluence (FLNC, not rated), including likely hyperscaler target customers based on our channel…
June 1, 2026
Where Fair Value Lands Sum-of-the-parts fair value built on GLJ earnings estimates: ENPH $26.55 (61% below current $68.66), SEDG $20.35 (74% below current $77.08). Our valuation is anchored on GLJ’s published EPS forecasts (ENPH: $1.45…
May 28, 2026
Bottom Line We have covered the solar complex across three full cycles — the 2011–2013 polysilicon bust, the 2018–2019 China “531” subsidy collapse, and the 2023–2024 distributor inventory disaster. The pattern is repeating. China telegraphs…
May 27, 2026
Investment Thesis FSLR 1Q26 Earnings: The Cancellation Cliff Is Over, the Bear Case Is Broken, and the 232 Catalyst Is Locked/Loaded The headline: we were wrong on FSLR. When we moved this name to HOLD…
May 27, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,730/ton = $5.19/kg) – down 0.9% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
May 22, 2026
Leading contract manufacturer Flex guided to further accelerative growth in 2027 +80% y/y on +70% in 2026 for c1Q27 spin of the Anord/Mardix PDU and JetCool CDU brands alongside a FlexPower power modules business that…
May 20, 2026
LME Metal Prices Mostly Higher vs. Previous Close: Today, Copper -1.09% to $6.07/lb; aluminum +0.30% to $1.63/lb; nickel +1.05% to $9.56/lb; zinc -0.19% to $1.63/lb; lead -0.01% to $1.10/lb; gold +1.39% to $4,545/oz; silver +3.47%…
May 20, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$37,055/ton = $5.22/kg) – down 0.4% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
May 19, 2026
Investment Conclusion March 2026 CSI data does something the February dataset did not: it forces us to update our priors with intellectual honesty. The single most important data point we flagged in our April 2…
May 18, 2026
We revisit our ’27, ’28 estimates as nVent Electric validated our initation thesis of DC-driven upside to the long-term algorithm with a 10pt raise to organic ’26 topline guidance. We quantify surprising growth across the…
May 18, 2026
Bottom Line Up Front In the last five sessions SEDG appreciated +47.79% and ENPH +40.48%, against a −0.03% S&P 500. That is roughly 48 and 40 points of single-week alpha in two multi-billion-dollar equities with…