I missed this earlier this morning which certainly helped push the stock significantly higher for the 2nd day in a row. Canaccord Adams upgraded Cree Inc (CREE) from Sell to Hold and raised the price target from $17 to $29.
Hat tip to StreetInsider.com for the following analyst comment.
“Our sources in the supply chain indicate that Cree is likely to see better margins this quarter, and we expect the company could likely beat the … Read the rest
This morning Citigroup is upgrading MEMC Electronics (WFR) from Hold to Buy, added to its Top Picks and raised the price target to $24 (a 50% premium over the current price).
Hat tip to Notable Calls for the following notes (read full article for more detail)
– Starting to reap meaningful cost reduction in poly operations
– plunging poly prices already built into the stock and it will recover long before poly prices … Read the rest
According to StreetInsider.com, MDB Capital is upgrading Ener1 (HEV) this morning from Hold to Buy and increased the price target from $7.50 to $10. The analyst believes that HEV will meet or exceed its 09 volume commitment for the Think vehicle and is positioned for significant growth based on..
– the recent purchase of Enertech
– the beginning of shipments of its battery pack to Think Global as part of a $70 million contract… Read the rest
JANCO is upgrading Energy Conversion Devices from Market Perform to Accumulate but cut the price target from $72 to $45
The firm said, “Although not immune to the difficult macro environment, ENER’s focus on BIPV with its flexible substrate thin films should put the Company on a relatively strong footing. While not changing our estimates for FY2009 and FY2010, we are bringing the multiples more in line with the rest of the group.”
Shares up … Read the rest
I reported yesterday that Kaydon (KDN), the maker of specialty ball bearings for the wind market reported so so results but that much of the negativity had most likely already been built in. Apparently, Deutsche Bank feels the same way and upgraded the stock from Hold to Buy this morning, saying:
“Cyclical risk appears adequately discounted. Plenty of free options. While we dislike the inherent cyclicality of Bearings markets as we enter what appears to … Read the rest