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Solar EnerTech Corp. Announces Research Coverage Started By Wellington Research With Target Price of $5.17 and Rating of ''Outperform''

Posted on: Tuesday, 13 June 2006, 09:01 CDT

Solar EnerTech Corp. (OTCBB: SOEN) announces that independent fee-based research provider Wellington Research has initiated coverage on the company with a price target of $5.17 and a rating of "Outperform".

The full report can be viewed at: www.WellingtonResearch.com

In the report, the author writes, "Solar EnerTech Corp. is involved in the manufacturing of photovoltaic (PV) solar cells and developing designs for PV modules, which are used to convert sunlight into electricity. The Company primarily targets the European and the U.S. markets. The firm is on the verge of becoming a part of the emerging solar energy industry. Many industry experts believe that solar energy will be the most convenient, affordable, and reliable source of energy in the near future."

The report continues, "Solar EnerTech has established its research facility in Jinqiao Modern Science and Technology Park (Shanghai, China). The Company plans to manufacture quality solar cells and state-of-the-art solar applications. Further, Solar EnerTech has planned to launch a joint R&D laboratory with one of China's most prestigious Universities in 2006. With the facility, the Company will be able to develop increased efficiency solar cells."

About Wellington Research

Information, opinions or recommendations contained in any Wellington Research reports or research notes are intended solely for advisory and information purposes. The information used in these reports has been obtained from sources considered reliable but Wellington Research can neither guarantee nor represent the completeness or factual accuracy. Such information and the opinions expressed are subject to change without notice. Wellington Research has been compensated fifteen-thousand dollars by the company for enrollment in its research program. The analyst(s) who created this report are responsible only to the public, are paid in advance to insure independence and receive no compensation based on the future performance of the stock. We encourage all investors to exercise extreme caution when investing and not to rely on this report as a basis for buying or selling any particular security. In addition, investors are advised to carefully examine all potential risks associated with this company by reading all publicly available information on file with the SEC. No assurances can be given that the future results indicated, whether expressed or implied, will be achieved.

Source: Business Wire

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