A few noteworthy analysts comments and rating changes in the solar space today…

Soleil Securities reiterated its Sell rating on First Solar (FSLR) but back pedaled a bit saying they are raising their estimates and wouldn’t be short heading into earnings.  They still have a sub $100 price target.  How’s that for conviction.  Shares of FSLR were initially positive this morning, but are now trading down fractionally.  Get your FSLR Trend Analysis.

Morgan Stanley downgraded Canadian Solar (CSIQ) from Overweight to Equalweight, but raised the price target slightly.  What are these analysts drinking this morning?  Shares of CSIQ are currently down a buck.

Citigroup commented on the impact of lower nat gas prices on the solar industry and declared MEMC Electronics (WFR) its favorite play right now.  It likes First Solar (FSLR) too.  Hat tip to Street Insider for the following analyst comment:

“Natural gas prices are notoriously volatile (they were approaching $14/MMBtu less than 2 yrs ago), but significant new supply and a general decline in electricity demand in the U.S. now appears to portend a sustained period of lower power prices. So, while the Street is now broadly bullish on a short-term basis given temporarily stable pricing trends and a clear segmentation of Tier1/Tier 2 bankability, we would not chase stocks given a combination of lower power prices, increasing pressure on subsidies around the globe, a wave of new capacity from Tier 1 players and outsized demand expectations for 2011. MEMC Electronic Materials  is our favorite name on a relative basis while we also FSLR but less so.” Shares of WFR are up about 1% today.