Suntech (STP) & American Superconductor (AMSC) Get Upgrades

The good news keeps rolling in for American Superconductor (AMSC) with a couple new orders and upgrades in the last week or so, but the stock doesn’t seem to want to move much on the news.  Perhaps today it can get going on an upgrade from Needham from Hold to Buy.  The firm has a $40 price target on it. 

Also getting an upgrade this morning is Suntech Power (STP) which was upgraded from Sell to Hold by Soleil.

“Q3 results – 16 cents on revenues of $473mm – were above consensus expectations (8 cents on revenues of $430mm). Strength was driven by strong growth in shipments – up 67% q/q. However, EPS was boosted by foreign exchange gain (6 cent benefit) and zero tax rate (3 cent benefit). We are raising our 2010 estimate from 13 cents per share to 45 cents per share due to higher shipment estimate (1050 MW vs. prior estimate of 900 MW).”

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