Canaccord Bullish On JASO, Downgrades STP, SPWRA

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09:53:02 am on October 4, 2010

Canaccord Genuity is out with a few ratings changes in the solar space. 

The firm has upgraded JA Solar (JASO) from Hold to Buy and raised the price target nearly 50% to $11.  Shares are falling another 3% today despite the upgrade indicating the stock is a bit tired following a torrid run.

==> Click Here For Your FREE Daily JA Solar Technical Analysis

Both Suntech (STP) and Sunpower (SPWRA) were downgraded from Hold to Sell. The price target on STP was cut from $9 to $7 while SPWRA’s price target was slashed more than 50% from $30 to $11.  Shares of SPWRA are down 4% today and probably need to continue to pull back and retest the 50 day moving average just above $12/share at some point.

==> Click Here For Your FREE Daily Sunpower Technical Analysis

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