Slew of Upgrades and Downgrades for Solar Stocks $JASO $STP
This morning Think Equity has upgraded JA Solar JA Solar (JASO) from Hold to Buy and upgraded Suntech Power (STP) from Sell to Hold. JASO is moving up 2%in premarket trading while STP is down a bit. Get a free trend analysis for JASO and STP.
On the LED front Merriman Curhan Ford is reiterating its Buyrating on Veeco Instruments and raised the price target range about 30%to $54-66. Says Merriman, “We expect Veeco to report 1Q10 upside onits April 26 earnings call. While the LED business is seeing robuststrength and is largely understood by investors, we believe investorsare overlooking strength in the HDD business.” Get a free trend analysis for VECO here. Shares of VECO are not moving premarket.
A few more analyst calls this morning. Collins Stewart hasdowngraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strongdemand has led to a firming of module prices, but it’s so strong thatits pulling up the prices of cells and wafers which may weigh on CSIQmargins. Shares of CSIQ are trading down 5% today and appear headed tothe $20 level which is very important level of support at the 200 daymoving average.
Hapoalim Securities has downgraded MEMC ElectronicMaterials (WFR) from Hold to Sell and has a $13 price target. Shares of WFR are down about 5% today as well and pulling back to whatis now support around the 15.50 level. If it can’t hold there, it mayneed to test the 200 day moving average around $15 which is where I maylook to add a longer term position.
On the bullish side of the coin RBC Capital ismaintaining its Outperform rating on Itron (ITRI) and hasraised the price target from $68 to $85 ahead of earnings on April28th. ITRI is trading down fractionally today.
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