Barclays upgraded ReneSola (SOL) from Equalweight to Overweight and increased the price target from $10 – $12.
“Although SOL has been our near-term top pick since Mar ’10, uncertainty with respect to 2011 demand and weak execution track record were some of the factors restraining us from having a more constructive longer term outlook on the shares. We now expect wafer market fundamentals to remain relatively robust in 2011.”

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They also upgraded Trina Solar (TSL) from Equalweight to Overweight and increased the price target from $21 to $30.
“Shares are down 17% ytd vs 2% S&P decline, and have generally lagged performance of stocks in the sector, mostly due to concerns over 2011 outlook, in our view. Our recent industry checks indicate that 2011 demand outlook is improving and we now see significant upside to consensus 2010/2011 estimates as well as valuation.”

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