Today’s Analyst Ratings Roundup: Upgrades Of SPWRA, ERII, RBCN, ITRI, BWA

Auriga has reversed its call after last week’s selling, upgrading SunPower (SPWRA) from Sell to Hold.  “Shares of SPWRA are now trading below our price target of $15 and are essentially 1.0x book value of $14.26.”  The firm expects the company’s presentation following its earnings report tomorrow to be optimistically bullish.  While demand for solar continues to improve, the still believe that margins will erode due to increasing competition and maintain the $15 price target.  Shares of SPWRA are up about 5% today and remain technically very weak.  I’d stay away until we get more visibility after earnings.  Quite a bit of technical damage needs to be repaired before I’d be interested down here.  Get a Free SPWRA trend analysis here.

Wedbush upgraded Energy Recovery (ERII) from Underperform to Neutral and has a $5 price target. “While we believe the company is well positioned to benefit from one of the key solutions to water scarcity, desalination, earnings visibility is limited in outer periods. Given the current price, and an uninspiring outlook for the remainder of the year, we believe these shares are likely to remain range bound until more clarity is provided into 2011 earnings. We do not expect any reasonable visibility into 2011 for another six months, when project financings are complete, or nearly complete.” Shares of ERII are recovering a bit today too, trying to hold support at the all time lows around $4.50.  Stay away from this one too.  Get a Free ERII trend analysis here.

Oppenheimer upgraded Rubicon Technology (RBCN) from Market Perform to Outperform and has price target of $30.  Shares of RBCN are up over 10% today and this LED play still looks quite bullish.  It managed to hold above the 50 day moving average during last weeks plunge and is surging off that level of support.  I think another pull back closer to the 50 presents a nice entry point.  Get a Free RBCN trend analysis here.

Atlantic Equities upgraded Itron (ITRI) from Neutral to Overweight and raised price target from $68 to $95.  ITRI is a stock I really like and regret not getting back in when it moved to $70 last week.  I think an entry at $74 or lower presents a buy opportunity.  A return to $70 would definitely get me back in.  Get a Free ITRI trend analysis here.

Barclays upgraded BorgWarner (BWA) from Equalweight to Overweight and maintained a $48 price target.  BWA is one of the more compelling green stocks I see out there right now.  This manufacturer of components for lightweight vehicles gapped up with big volume following earnings on April 29, but has given up the entire gain, providing a nice reward vs risk entry at $40 or lower.  Get a Free BWA trend analysis here.

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