Cree Inc (CREE) has had quite a run off the bottom in recent weeks and the run continues this morning with the stock up about another 7% on a few bullish calls.
Morgan Keegan upgraded the stock from Market Perform to Outperform and raised the price target from just $48 to $75 a few days ago. They said the headwinds are dissipating and than the supply/demand balance will be gone by the end of this … Read the rest
A few analyst rating changes and coverage initiations this morning…
Barclays upgraded Suntech (STP), JA Solar (JASO) and Sunpower (SPWRA) to Overweight. All three are up about 8% today with STP and JASO breaking out of bases on the upgrade.
Wedbush Morgan isn’t quite as positive on Sunpower, lowering the price target from $29 to $21, but maintains its Neutral rating. Hat tip to StreetInsider.com for the following analyst comment:
“We believe investors do not … Read the rest