Goldman Sachs Downgrades Major Solar Stocks To "Sell" (FSLR, SPWRA, CSIQ, LDK)

Goldman Sachs changed the rating of several key solar power stocks from "Buy"  to "Sell," according to The stocks affected by the change include First Solar and SunPower. The downgrade seems to be the result of two major factors. First, some people are predicting that the supply of solar power will exceed demand for it by 2010. Secondly, the credit crunch makes it difficult for companies to get financing on new projects.

Goldman Sach’s action only affected First Solar and SunPower directly, but according to the entry,

Goldman Sachs does not follow many of the other solar stocks, but companies such as Canadian Solar Inc. (NASDAQ: CSIQ) and LDK Solar (NYSE: LDK) are possibly going to be down in sympathy with the call even if they aren’t a part of the research call.

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