Macquarie Upgrades First Solar (FSLR); Needham Maintains Buy On Applied Materials (AMAT)

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08:10:49 am on May 20, 2010

A couple analyst ratings notes in the solar space this morning. 

Needham reiterated its Buy rating on Applied Materials (AMAT) and price target of $18 following its earnings report last night. “AMAT F2Q10 (Apr) results beat expectation and guidance was above consensus. We believe the report was largely inline with buy-side expectations. We are encouraged by the company’s decision to take further steps to scale back SunFab, but we are a bit disappointed by the lack of details. With more cost reductions and streamlining of its operations ahead, AMAT will deliver better margins and earnings as the cycle progresses.” Click Here For Your FREE Applied Materials Analysis

I’ll have more on AMAT’s quarter later today, discussing their solar business.

Macquarie upgraded shares of First Solar (FSLR) from Neutral to Outperform this morning.  Shares of FSLR are lower again this morning.  Solar stocks have been destroyed as the price of crude plummets, but I’m going to be doing some buying in this space soon.  Click Here For Your FREE First Solar Analysis

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