A few analyst rating changes are out this morning..
Analyst comment below courtesy of StreetInsider.com.
Deutsche Bank is out this morning maintaining its hold rating on Canadian Solar (CSIQ) but is lowering the price target from $17 to $13. The firm says, “Recent inputs from various solar PV companies and less than hoped for improvement in the demand picture for larger systems (due to financing availability) cause us to reassess our outlook for solar PV companies through2010. We are lowering our ASP estimates and adjusting our production estimates more for seasonal factors than for Canadian Solar (CSI), which lowers our revenue and EPS estimates for 2010. We believe the stock is fairly valued at present levels and maintain our Hold rating.”
Credit Suisse initiated coverage on Trina Solar (TSL) with an Outperform rating and price target of $40.
Here are some other changes in the green stock arena today:
Canadian Solar (CSIQ) cut to Neutral from Outperform at Macquarie on pricing pressure. Price target cut from $26 to $17.50
Sunpower (SPWRA) cut from Neutral to Underperform at Macquarie due to China pricing pressure
Zoltek (ZOLT) initiated with a Buy at DA Davidson