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Analysts: Buy American Superconductor (AMSC), Downgrade Evergreen Solar (ESLR)
Analysts are out with a few notes this morning – an initiation of coverage on American Superconductor (AMSC) with a BUY and a downgrade of Evergreen Solar (ESLR) to NEUTRAL.
According to StreetInsider.com, Piper Jaffray downgraded ESLR to Neutral for the following reasons:
- rapidly losing polysilicon cost advantage
- low visibility in financial impact of outsourcing production to Asia
- minimal balance sheet flexibility for pursuing expansion in Asia
Broadpoint AmTech Initiates Coverage on AMSC with Buy rating and $20 price target because of its exposure to the rapidly growing Chinese wind market and electric grid modernization opportunities. AmTech also believes AMSC offers a unique solution that provides a quick time to market for new wind turbine manufacturers.
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