Two firms are out this morning upgrading Sunpower (SPWRA) which has been crushed this year. Hat tip to Street Insider for the analyst comment.
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Soleil Securities upgraded from Hold to Buy.
“Checks indicate that a large volume of system development business in the PV sector is going to be finalized in the fourth quarter of this year. We believe SunPower will generate over 90 cents per … Read the rest
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … 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
A few noteworthy analysts comments and rating changes in the solar space today…
Soleil Securities reiterated its Sell rating on First Solar (FSLR) but back pedaled a bit saying they are raising their estimates and wouldn’t be short heading into earnings. They still have a sub $100 price target. How’s that for conviction. Shares of FSLR were initially positive this morning, but are now trading down fractionally. Get your FSLR Trend Analysis.
Morgan Stanley … Read the rest
Several Analyst rating notes this morning. Hat tip to Street Insider for the analyst commentary.
Soleil Securities maintains Hold on SunPower (SPWRA) and has price target of $21. “Cutting 2010 estimate from $1.50 to $1.30 per share (consensus is $1.45 per share). Introducing below consensus estimate for 2011 ($1.65 per share vs. $2.07 consensus).”
Merriman Curhan Ford reiterates Buy rating on Power One (PWER). “Our recent meeting with senior management continues to reaffirm … Read the rest
A few months ago Soleil Securities downgraded FSLR from Buy to Hold but increased the price target a bit to $170. The firm just got a lot more bearish on the stock and is downgrading it again from Hold to Sell and slashing the price target from $170 to $96.
Hat tip to StreetInsider.com for the following analyst comment:
We believe the environment in which First Solar massively beats expectations each (and every) quarter has … Read the rest
A tale of two analyst comments today on First Solar (FSLR) with Soleil Securities downgrading the stock and Broadpoint Amtech maintaining its Buy rating and raising the price target to $250 based on the potential for several catalysts.
Hat tip to StreetInsider for the following analyst notes:
The catalysts highlighted include:
The 2009 Analyst Day: FSLR is scheduled to host an Analyst Day on June 24 in Las Vegas where we expect management to highlight … Read the rest
Soleil Securities has initiated coverage on both Suntech Power (STP) and LDK Solar (LDK) with Buy ratings on both. According to StreetInsider.com, Soleil had this to say on Suntech:
“The prospect of strong earnings growth through ’09 is offset by our expectation of a sharp decline in photovoltaic industry pricing in 2011 which will lead to an equally sharp decline in earnings in 2012.” Their price target is 41.
On LDK Solar:
“While we … Read the rest
According to StreetInsider.com, Soleil Securities raised its price target on VeraSun (VSE) from 3.75 to 4.15 but maintained its sell rating. Uh OK.. got it. So you think the price will rise from current levels but it should still be sold.
The firm also raised its 08 EPS estimate from .10 to .49 and its 09 estimate from .02 to .41 saying that it now reflects management guidance and the current macro ethanol markets. … Read the rest
According to StreetInsider.com, Soleil Securities downgraded BioFuel Energy (BIOF) to Sell citing the company’s need for additional debt in order to cover hedging losses and construction costs.
They also reiterated their sell rating on Pacific Ethanol (PEIX) and lowered the price target to 1.50 from 2, saying “the outlook remains weak given the forecasted ehtanol environment and their debt heavy balance sheet. As we are modeling negative margins going forward, we do not anticipate … Read the rest