JP Morgan Upgrades Evergreen Solar (ESLR), Doubles Price Target; Downgrades First Solar (FSLR)

According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share.  Shares are trading up about 6% in premarket trading.  First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear of subsidy cuts.  It’s off about 2% in premarket action and will likely hit that 200 day moving at 150 today.

Other changes:

JP also upgraded ASTI to Neutral from Underweight
Energy Conversion Devices (ENER) was initiated with an Overweight
SunPower (SPWRA) upgraded to Neutral

JP Morgan is cautious and defensive on the entire solar sector.

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