ReneSola's (NYSE:SOL) Wafer, OEM Strategy Impresses Goldman (NYSE:GS)

Goldman Sachs (NYSE:GS) has initiated coverage on ReneSola Ltd. (NYSE:SOL), saying they like their OEM and wafer strategy.

They said, "We like ReneSola's two-pronged wafer and OEM business strategy, established customer base, predictable pricing, and solid balance sheet, and think it is attractively valued at 3.9X 2011E P/E."

Goldman started ReneSola Ltd. with a "Buy" rating. They were trading at $9.23, up $0.83, or 9.88 percent, as of 12:54 PM EST. Goldman has a price target of $11 on them.