Solar Stocks Ratings Rundown (STP, ENER, FSLR, SPWRA)

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11:49:06 am on October 19, 2010

According to Barron’s, there are a few analyst calls in the solar space this morning and it’s a bit mixed, but leaning towards the bullish side. 

Raymond James

Energy Conversion Devices (ENER) gets a downgrade from Market Perform to Underperform.  The firm sees the market for amorphous silicon as bleak and not a viable technology in the long run.  Shares are down 6% today but hanging in there above support of the 50 day moving average and have looked increasingly bullish in recent weeks, but I have to agree  that ENER is a solar laggard with a questionable future.

===> Click Here For Your FREE Daily ENER Technical Analysis

First Solar (FSLR) gets a downgrade as well from Outperform to Market Perform.  The firm highlights increasing competition, particularly that of Abound Solar which has been aggressively scaling up production supported by Federal loans.  Raymond is moving to the sidelines based not only on increased competition, but valuation and lack of visibility as well.  Technically, shares of FSLR have held up very well today, down less than 2%.  The up trend off the June lows remains intact as long as it can hold above the 50 day moving average. 

===> Click Here For Your FREE Daily FSLR Technical Analysis

Suntech Power (STP) gets a rare upgrade from Underperform to Market Perform.  The firm notes that the risk/reward ratio has improved enough to get relatively neutral.  Shares of STP have taken a bit of a beating in recent days, but still have support of the 50 day moving average which it is testing today.

===> Click Here For Your FREE Daily STP Technical Analysis

Deutsche Bank

Deutsche remains considerably bullish on the China solar space.

It upgraded Suntech Power (STP) as well from Hold to Buy and also sees an attractive reward/risk ratio at these levels.  It’s also reiterated its Buy ratings on SOL, TSL and YGE.

Brigantine Advisors

Initiates coverage on First Solar (FSLR) with a Buy rating due to a strong balance sheet and a history of solid execution.

Initiates coverage on Sunpower (SPWRA) with a Buy rating as well.  The firm sees the accounting issues and skepticism about the company’s ability to sell some of its Italian projects as overblown.

They aren’t as bullish on Suntech (STP) and are initiating with a Hold due to the fact the company invested in poly suppliers at a time when polysilicon prices were at all time highs which could weigh on the stock for some time.

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