A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
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Morgan Joseph began coverage of Andersons (ANDE) with a Buy rating and $48 price target. … Read the rest
Sunpower (SPWRA) has finished construction on a 1MW solar system for the Yolo Country Justice Campus in California. The system will be owned by the Justice Center which financed the project through clean energy subsidized bonds financed by Bank of America as well as a 15 year loan from the Cali Energy Commission. The project is using the Sunpower Tracker system which tracks the sun’s movement for greater efficiency.
A few analyst ratings/notes to highlight this morning.
The biggest was the two notch upgrade of LDK Solar (LDK) by Bank of America from Underperform to Buy due to lower risks of oversupply. Following the LDK Solar earnings report, I mentioned that I thought the stock offered a very compelling entry down at these levels and has the potential to double or triple if you’re patient. I still believe that. Shares of LDK gapped … Read the rest
The upgrades keep coming in for Suntech Power (STP) and JA Solar (JASO). Yesterday they were upgraded by Barclays and this morning Thomas Weisel is doing the same, upgrading both from Underweight to Market Weight. Both stocks are holding yesterday’s breakout moves well despite heavy selling in the overall market today. While it could be a rocky ride, solar stocks are increasingly showing signs that the bottom is in.
Itron (ITRI), the smart grid behemoth … Read the rest
The coverage is beginning to come out on A123 Systems (AONE) and the first round is generally positive with some bullish comments coming out of Deutsche Bank.
Bank of America initiates with a Hold rating and $17 price target.
Morgan Stanley has initiated coverage an Equalweight which I assume is similar to a Hold rating.
Deutsche Bank initiates coverage with a Hold rating and price target of $17.
Hat tip to StreetInsider.com for the following … Read the rest