Today’s Analyst Roundup: WFR, FSYS, ORA, ERII, JASO, TSL, ABB, ELON, RBCN

Another wild day and I’m busy watching the market and getting behind on green stocks updates!  Lots of analyst rating changes today..

Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy.  Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash.  Get a Free WFR trend analysis here.


Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed the price target in half to $30.  FSYS is also doing a decent job of holding a previous low, in this case support at the March lows around 26.  Get a Free FSYS trend analysis here.

Thomas Weisel downgraded Fuel Systems Solutions (FSYS) from Overweight to Marketweight and lowers price target from $35 to $28.

Canaccord Adams downgraded Fuel Systems Solutions (FSYS) from Buy to Hold and cuts price target from $36 to $32.  “To be clear, we do not see much, if any, downside to shares at current levels, especially as a high and expensive short interest (~55%) keeps the potential for a squeeze intact. While Q1 showed the power of the platform, we find risk/reward more balanced here given several factors, including the ongoing uncertainty about underlying DOEM demand/volumes, tough FTM compares, the fx headwind and the timing of growth opportunities.  Given management’s maintenance of guidance, we find it likely that Street estimates for H2/10+ trend lower and that related uncertainty remains an overhang near term. That said, early penetration into other key OEM and aftermarket geographies, along with potential to expand the US fleet business, helps keep us squarely positive longer term.”


Baird downgrades Energy Recovery (ERII) from Outperform to Neutral and lowers price target from $8 to $6.
Credit Suisse downgrades Energy Recovery (ERII) from Outperform to Neutral.

Shares of ERII were crushed today, taking out the all time lows at 4.50 but recovering and trying to hold that level.  Get a Free ERII trend analysis here.


Citi downgrades Ormat Technologies (ORA) from Hold to Sell and slashed price target from $36 to $22. “As the leading global developer of geothermal power plants and with plans to soon add solar generation, ORA should be geared to benefit from ongoing initiatives to encourage renewable generation and reduce GHG emissions. However, permitting delays, operational difficulties, and soon falling PPA prices for new capacity are all apt to hamper earnings and stem capacity growth in the nearto-intermediate term. Given this outlook, Street estimates look far too high. Finally, momentum in the US for climate change legislation appears to have stalled, and it is increasingly unlikely that anything will get passed this year. Cutting 2010/2011 EPS (GAAP) to $0.19/$0.36 from $0.57/$0.57, respectively.”

Ardour Capital upgraded Ormat Technologies (ORA) from Reduce to Hold.

ORA shares have also been hammered following earnings and are testing the March lows today.  I believe it’s too soon to get into ORA, but this is a mighty compelling stock down at these levels.  Get a Free ORA trend analysis here.


Collins Stewart has upgraded JA Solar (JASO) from Hold to Buy and set a price target of $7.50. CS believes solar cell prices will continue to rise and that there will be a shortage of low cost cell capacity.  They see a compelling valuation in the stock and believe a portion of the forex hit has been factored in.  The firm raised its CY10 EPS estimate from $0.71 to $0.75 and its CY11 estimate from $0.70 to $0.80.  Despite falling from near 7/share to 5.50 in recent days, the chart of JASO still looks quite bullish and is one of the most bullish solar stock charts out there.  It bounced off support of the 50 day moving average yesterday and the short double bottom base remains intact.  Get a Free JASO trend analysis here.


Raymond James upgraded Trina Solar (TSL) from Outperform to Strong Buy.  Shares of TSL aren’t moving on the upgrade today and remain quite weak technically after taking out support of the 200 day moving average yesterday.  Get a Free TSL trend analysis here.


ING Group initiated coverage on ABB Ltd (ABB) with a Buy.  ABB is another stock that has been hammered recently with heavy volume.  It’s currently trying to hold support at the 2010 lows around 17.  Not a Buy yet in my book, but another one that might be interesting if it can hold the 17 level.  Get a Free ABB trend analysis here.


D.A. Davidson upgrades Rubicon Technology (RBCN) from Neutral to Buy.  This is a green stock I’ll be watching closely in the coming days. It got way overdone, but has now pulled back to the 50 day moving average around 22 where it bounced from yesterday.  Get a Free RBCN trend analysis here.


Needham & Company reiterates Buy rating on Echelon (ELON) and increased the price target to $11 from $9.  “Overall, we believe Echelon is moving in the right direction while: (1) LonWorks is benefiting from healthy DR and streetlighting; (2) NES is facing a pick-up of international activity (as strong Fortum and Duke contributions appear highly likely for C11); and (3) the company appears well poised to get better leverage on its Opex.”

ELON is now doubt an interesting play down at these levels after the selling of the past couple weeks.  There is significant support around the 8 level, but this is still a company that isn’t profitable and aren’t expected to be until probably 2012.  I just don’t think these kind of companies are going to fare all that well if (when) the overall market falls back into correction mode.

Get a Free ELON trend analysis here.

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