Upgrades: First Solar (FSLR), SunPower (SPWRA); Downgrade to JA Solar (JASO)

Posted by Tate Dwinnell | # |
11:39:12 am on October 14, 2008

Some solar analyst ratings are out this morning with Friedman Billings upgrading both First Solar (FSLR) and SunPower (SPWRA) to Market Perform and price targets of $210 and $65, respectively. 

JA Solar (JASO) wasn’t so fortunate, getting a downgrade from Canaccord Adams from Buy to Hold.  The stock is off nearly 18% today with heavy volume, erasing yesterday’s move an then some. 

Let’s not forget though that it was Canaccord Adams that initiated coverage with a Buy rating on JA Solar on Aug 5th.  At the time the stock was trading around $15/share and Canaccord had a price target of $19 (it currently trades below 7).  On that same day, they also issues a BUY on Canadian Solar (CSIQ)… had you bought then you’d be down 50%.  Let’s just say that Canaccord Adams is lacking credibility with its solar ratings right now.

Both FSLR and SPWRA are up modestly. 

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