ErSol Solar Energy "buy"

06/19/07 - Dexia Securities

LONDON, June 19 (newratings.com) - Analyst Peter Vanassche of Dexia Securities maintains his "buy" rating on ErSol Solar Energy AG (ES6). The target price is set to €70.

In a research note published this morning, the analyst mentions that the company has announced a €230 million contract with IBC Solar for a ten-year period. As per the agreement, ErSol Solar Energy would supply silicon solar cells to IBC Solar from 2008 into 2017, Dexia Securities adds. The contract announcement has increased the visibility into the 2008 estimates for ErSol Solar Energy, the analyst says.