A few solar upgrades to report this morning…
Suntech Power (STP) was raised to Neutral from Underperform by Macquarie. Shares are up about 3% on the upgrade. Click Here For Your FREE Suntech Analysis
Sunpower (SPWRA) was upgraded by Europe’s SocGen from Hold to Buy and raised the price target from $29 to $31.moving this morning as we have an analyst upgrade over at Europe’s SocGen. The firm raised its investment rating on SunPower shares … Read the rest
The StreetInsider.com has a great run down of analyst reactions to First Solar’s (FSLR) guidance last night. The company guided higher and announced significant expansion plans over the next two years. The following is reprinted with permission.
Piper Jaffray: “While strong 2010 top-line guidance and newly announced capacity expansion are positives, a substantially higher mix of lower margin systems business is expected to prevent both margin and EPS expansion in 2010. FSLR remains the … Read the rest
Last night it was announced that Sunpower was investigating some accounting errors at its Philippine operations and this morning the downgrades are flowing.
Piper Jaffray downgraded from Overweight to Neutral and lowered the price target from $38 to $31.
Hat tip to StreetInsider.com for the analyst comments:
“SPWR announced accounting errors that may have underestimated costs in its Philippine manufacturing plant for both 2009 and 2008. The magnitude of the COGS understatement could be $14M … Read the rest
Yesterday, both Kaufman Bros and FBR Capital issued negative reports on First Solar (FSLR), but the stock didn’t budge as it held above the $120 level. That kind of resilience typically sets up at least some short term strength which is why I have initiated a swing trade around the $123 level. My stop point is just below the $120 level.
Here are the analyst comments from yesterday… (hat tip to StreetInsider.com for the analyst … Read the rest
All that insider selling in recent days hasn’t done much to sink First Solar (FSLR), but it’s taking a small hit on an FBR Capital downgrade this morning, off about 4%. The company is being downgraded from Market Perform to Under Perform with a price target of $100.
Here are the FBR Capital comments according to StreetInsider.com:
Polysilicon prices taking a nose dive. Checks over the past week suggest (quality) spot poly prices have … Read the rest