July 9, 2026
The Punchline. We like arithmetic. Here is some: Tesla has self-certified 102 vehicles to the Texas DMV as SAE Level 4 self-driving cars, according to robotaxitracker.com. Yet, tracking data (Robotaxi Tracker) shows just 17 of…
July 1, 2026
The grid is short on reserve margin. AI is the reason. Fluence sells the cure — proven batteries, not “PowerPoint” transformers. Trade construction: Own FLNC outright (high-risk long), and/or express it as a relative-value pair…
June 29, 2026
Solar-loan ABS is repricing in real time. Sunrun doesn’t appear anywhere in the data below — which is exactly why the read-through is being mispriced. The reports aren’t about Sunrun’s loans. They’re about the cost…
June 24, 2026
What you Need to Know. This morning Sunrun, Renew Home and Tesla announced a framework to deliver “more than 16 GW” of flexible capacity to hyperscalers and utilities. The number is engineered for a press…
June 18, 2026
STLD “misses” and NUE “beats” — but strip the one-offs and both print light; the read-through for Cleveland-Cliffs (“CLF”) and for 2H HRC is more nuanced than the headlines, with the import data the swing…
June 12, 2026
Investment Conclusion With roughly three weeks of the quarter still to run, our model points to 2Q26E global deliveries of 426,017 units — up 19.0% sequentially from 1Q26’s 358,023 and up 10.9% against the 384,122…
June 9, 2026
Executive Summary We are upgrading Cleveland-Cliffs (“CLF”) to HOLD from SELL and raising our 12-month price target to $15.01 (from $9.03 prior). The upgrade reflects a material change in the evidence since our May 5,…
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 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 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 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…
May 13, 2026
Executive Summary NXT delivered a clean F4Q26 beat across every line item that matters and raised FY27 revenue guidance more than we expected, but the optical headline of the print is overshadowed by what is,…
May 12, 2026
Investment Thesis & Summary We are reiterating our BUY rating on Cameco Corp. (CCO) but lowering our 12-month price target to C$152.60/share from C$171.20/share previously, an implied 7.3% reduction. Our slightly reduced target is derived…
May 7, 2026
Bottom Line: 1Q26 Was the Quarter the Bull Thesis Broke The simplest version of the “smart” bull thesis on RUN goes like this: “Don’t worry about GAAP free cash flow — RUN is willingly burning…
May 5, 2026
Executive Summary We reiterate our SELL rating on Cleveland-Cliffs (“CLF”) and reduce our 12-month price target to $9.03, from $9.42 prior, reflecting: (i) a sustained pattern of negative variances between management’s quarterly cost and ASP…