Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF)keeps advancing to new 52-week highs supported by strong trading volumes as investors got caught on the idea of this stock reaching $13 per share in the near future.The analysts based their decision to raise price target upon increased demand for solar power products which has been observed during the 4th quarter 2009. Solarfun was one of the most potent solar companies to benefit from this increase.
With strong balance sheet, penetration of the most potential solar markets in Germany, China and United States and technology that's ready to boom the company is only troubled by historically red bottom line. Their cash resources haven't got wasted though and recent sale of assets set the company up with resources needed for expansion.
Whether the share price will reach the promised $13 in a week or a month it looks like a guaranteed profit from the current point. The market didn't take it for granted though as 5% correction hit the overbought stock on Thursday.
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