According to Barron’s, there are a few analyst calls in the solar space this morning and it’s a bit mixed, but leaning towards the bullish side.
Raymond James
Energy Conversion Devices (ENER) gets a downgrade from Market Perform to Underperform. The firm sees the market for amorphous silicon as bleak and not a viable technology in the long run. Shares are down 6% today but hanging in there above support of the 50 day moving … Read the rest
Lots of analyst reaction to First Solar (FSLR) earnings last night. Here’s the run down with a hat tip to Street Insider for the analyst commentary.
Buy Ratings
Brigantine Advisors reiterates its Buy rating and raises the price target from $144 to $150.
“Investor sentiment in the solar sector has been weak for much of this year, and we think the strong report from First Solar will go a long way to allay most concerns. … Read the rest
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Analysts are weighing on the Sunpower (SPWRA) earnings results this morning. Hat tip to Street Insider for the following analyst comments:
Piper Jaffray is maintaining a Neutral rating and is raising the price target from $22 to $25.
“SPWR provided in line FY10 revenue guidance but PF EPS guidance was below consensus; additionally 1Q10 guidance was much lower due to backend-loaded systems revenue. The stock will likely … Read the rest
Brigantine Advisors has initiated coverage on Suntech Power (STP) with a Hold rating. Hat tip to Street Insider for the following analyst comment:
“Suntech is the world’s second largest manufacturer of solar modules, with shipments rising 42% Y/Y in 2009 on a Megawatt basis. Solar module pricing fell sharply in 2009, down nearly 40% Y/Y, and we expect will fall about 30% Y/Y in 2010. The company relies on Germany for about 40% of its … Read the rest
The analysts are tripping over themselves to make a call on First Solar (FSLR) ahead of earnings tonight. Add Brigantine Advisors to that list. The firm has upgraded First Solar (FSLR) to Buy and set the price target at $145 per share. Hat tip to Street Insider for the following analyst comment:
“News out of the solar sector has generally been negative over the last few months: a mostly inconclusive climate summit in Copenhagen, delays … Read the rest
Cree Inc (CREE) is being hit with another downgrade this morning, this time from Brigantine Advisors (first I’ve heard of them) to a Sell rating due to valuation concerns. Hat tip to StreetInsider.com for the following analyst comment:
“Based upon our checks, we believe that demand and pricing for LEDs was very robust in the December quarter, and Cree likely enjoyed strong business trends. Seasonally strong demand from Notebook PCs and LED-backlit televisions appear to … Read the rest