Goldman Sachs (GS) Initiates Solar Coverage: Buy FSLR, Neutral SPWRA, Sell WFR

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07:54:17 am on June 28, 2010

The big gorilla Goldman Sachs (GS) has finally begun covering the solar sector and initiated coverage of the US solar sector with a Neutral rating and initiated coverage on a few of the largest solar companies too.  Hat tip to Street Insider for the heads up on these ratings this morning.

It begins First Solar (FSLR) coverage with a Buy rating and $150 price target. They view the increased exposure to the US utility scale market as a significant positive.  Get First Solar Technical Analysis

SunPower (SPWRA) is initiated with a Neutral rating and a $15 price target.  Get Sunpower Technical Analysis

MEMC Electronic Materials (WFR) is initiated with a Sell rating and $9 price target.  Goldman sees more risk than reward amid a sub-peer margin recovery, lower returns due to a more capital-intensive business mix and an elevated valuation.  Get MEMC Electronic Materials Technical Analysis

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