JANCO Partners has downgraded Energy Conversion Devices (ENER) from Market Perform to Sell today and lowered the price target to $8.75..
Hat tip to StreetInsider.com for the following analyst comment:
“We are downgrading the company’s stock as a result of the company’s restructuring plan and the 20% planned head count reduction. We see the layoffs as a sign from management that a rebound in demand is materializing slower than originally anticipated. Furthermore, we expect competition … Read the rest
I came across a Reuters article today discussing the Itron (ITRI) earnings report tomorrow and they believe (along with a few analysts) that Itron will report poor results tomorrow after the bell due to a cut back on spending from utilities, but are bullish longer term. I would like nothing more than for Itron to miss by a wide margin tomorrow so that I can continue to add to a long term position at a … Read the rest
JANCO Partners upgraded American Superconductor (AMSC) from Market Perform to Accumulate ahead of its earnings report on Thursday.
Hat tip to StreetInsider.com for the following analyst comment:
“In view of the recent pullback in the stock price and continued momentum of the Chinese wind market benefiting AMSC, we are upgrading the stock to Accumulate. We believe that the company has a reasonable chance of outperforming Street expectations given that Sinovel accelerated their ramp schedule of … Read the rest
JANCO Partners upgraded Sunpower (SPWRA) this morning from Accumulate to Buy because they believe the sell off after earnings is overdone.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrading the stock to a Buy rating based on the upside potential in the stock given the recent pullback since the company announced earnings on 10/22/2009. With the pullback the stock is currently trading at 14.9X our FY2010 EPS estimate of $1.82, which … Read the rest
Hat tip to StreetInsider.com for the following upgrade/downgrade notes:
Hapoalim downgrades Suntech Power (STP) to Sell with a $9 price target, citing escalating solar module price war.
The firm said, “Evidenced by Ersol’s recent decision to adjust the mid-point of its CY09 EBIT guidance to “negative” vs. +12% before (due to a “sig. drop in prices of solar modules”), we believe “Tier 1” module vendors are beginning to react to price aggression by Chinese solar … Read the rest
JANCO is upgrading Energy Conversion Devices from Market Perform to Accumulate but cut the price target from $72 to $45
The firm said, “Although not immune to the difficult macro environment, ENER’s focus on BIPV with its flexible substrate thin films should put the Company on a relatively strong footing. While not changing our estimates for FY2009 and FY2010, we are bringing the multiples more in line with the rest of the group.”
Shares up … Read the rest
The analysts are weighing in on Sunpower (SPWRA) following their earnings report and the analysis is across the board. Citi is downgrading the stock to Sell and believes this is the last good quarter from the company for awhile! Ouch. Merrill Lynch is negative on SPWR as well, downgrading it from Buy to Neutral.
Then there’s Wedbush Morgan, with an against the grain STRONG BUY rating and $100 price target! Are they all looking at … Read the rest
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