Wall Street News Alert's "stocks to watch" this morning are:
Welwind Energy International Corp. (OTCBB: WWEI), SunPower
Corporation (NASDAQ: SPWRB), General Growth Properties, Inc. (NYSE:
GGP) and SanDisk Corporation (NASDAQ: SNDK).
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Welwind Energy International Corp. (OTCBB: WWEI) continues to
have a great week of positive news, and investors should be
watching this one closely! Early this morning, the company, a
developer and operator of wind farm projects in China and Canada,
issued a press release announcing that Ludlow Energy Ventures, Inc.
upgrades its research rating on Welwind Energy International Corp.
with a 'speculative' A- rating, and price target of $0.60 to $0.70
per share.
More good news! Welwind Energy's recent announcement of final
approval from the local regional Mayor for their power purchase
agreement (PPA) for the Zhanjiang wind farm project now positions
the Company for the expansion and streamlining for future wind
project PPAs in China. The details of the PPA terms are expected to
be announced sometime in the next few weeks. According to the
release, Ludlow Energy anticipates the first PPA could be valued
around $90 million, and with around 190 million shares issued and
outstanding, this would give WWEI a valuation of around $90
million, or around $0.40 to $0.50 per share.
Aside form the Zhanjiang wind farm project, investors should
also take notice of their Ningxia Tianjing Helanshan and A La Shan
Zuo Qi' wind farm projects, which currently hold exsisting power
purchase agreements (PPA) with the Chinese government. The press
release goes on to state, that these two projects are much further
along and with $90 million value per 49 MW, and currently four 49
MW projects ongoing in different stages, that equates to $360
million in current wind farm projects on the burner in China alone.
The Company currently holds plans for a total of 2,000 MW for their
wind farm projects in China.
Aside from China, the Company is taking steps to expand their
portfolio into North America as they have announced they have
secured 6080 acres for their 100 MW Peace Region Project in British
Columbia, Canada. The Company also announced joint venture plans
with their partner Windcor Power Systems to develop another 200 MW
wind farm project located in Southern Alberta. The company may also
be well positioned to benefit from potential US projects through
the Obama Administration's 'New Energy Plan for America,' which
plans to invest $150 billion into clean and renewable energy
projects in the United States.
Also according to the press release, the Company has secured
financing commitments for their Chinese and Canadian wind farm
projects through Global Financial & Capital Corp. and Acterra
Group, which should be structured as debt or 'bond' stakes within
the wind projects, and thus should not produce any undue dilution
to the Company common stock.
Overall, with the projects the Company is developing in their
portfolio, Ludlow Energy Ventures is upgrading its rating on
Welwind Energy International Corp. from a 'speculative' B+ to A-,
and maintaining its price target of $0.60-$0.70 per share.
For a link to the full investment opinion, and risks associated
with this company visit --
http://www.ludlowenergy.com/reports/wwei.html.
Investors are urged to continue to monitor the progress of the
company!
The stock closed yesterday at around Ten cents a share.
In case you are not familiar with the company: Welwind Energy
International Corp. is committed to providing the best resource
option available for renewable energy, protecting our environment,
empowering communities, bolstering local economies and respecting
the rights of future generations.
Welwind Energy International was founded to build, own and
operate wind farms on an international scale. The company's goal is
to become a leading provider of clean energy products for the
residential, business and governmental consumer.
SunPower Corporation (NASDAQ: SPWRB) up 5.1% on 2.3 million
shares traded.
SunPower Corporation designs, manufactures and delivers
high-performance solar-electric systems worldwide for residential,
commercial and utility-scale power plant customers.
General Growth Properties, Inc. (NYSE: GGP) up 0.4% on 20.2
million shares traded.
General Growth is a U.S. based, publicly traded Real Estate
Investment Trust.
SanDisk Corporation (NASDAQ: SNDK) up 1.8% on 20 million shares
traded.
SanDisk is the original inventor of flash storage cards and is
the world's largest supplier of flash data storage card products
using its patented, high-density flash memory and controller
technology.
Market Commentary:
"Oil prices hovered near three year lows as light, sweet crude
for January delivery fell 17 cents to settle at $46.79 a barrel on
the New York Mercantile Exchange. Crude dipped to $46.26, the
lowest level since May 20, 2005, when it traded at $46.20," stated
Sonja Rudd in Wall Street News Alert's daily commentary continued
at: http://www.WallStreetNewsAlert.com.
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