Piper Jaffray Introduces 2012 Estimates On JASO

Piper Jaffray is rolling out its 2012 estimates on JA Solar (NASDAQ: JASO) with an Overweight rating and a $14 price target based on a 9x multiple to our FY12 EPS of $1.50.

Some of the risks to achieving that PT, Piper Jaffray said, include poly volatility; ramp risk; subsidy reduction; supplier/buyer concentration.

JA Solar closed Friday at $6.92.