Analyst Responses to Energy Conversion (ENER) Warning

Here are some analyst reactions to Energy Conversion Devices (ENER) today following last nights earnings warning.  Hat tip to for the following analyst notes..

* Merriman Curhan Ford downgrades from Buy to Neutral

“While we continue to believe ECD has compelling and differentiated technology that can resist the pricing pressure caused by the glut of global module supply, the company is certainly not immune the to dismal credit markets. Data from California’s Solar Initiative Program indicates new solar install applications have fallen to 188 applications to date in March from an average of 1,000 per month over the past several months.”

* Raymond James downgrades from Outperform to Market Perform

* Deutsche Bank maintains Hold rating but lowers price target from $35 to $25

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