Solar Stocks of the Day: SPWRA, LDK, CSUN, WFR (7/24/2009)
Below are today’s notable solar stocks with significant news and price performance:
SunPower Corporation (NASDAQ:SPWRA) surged 28.9% to$32.04. The company’s Q2:09 earnings were well above analystexpectations. Barclays Capital raised target price from $25 to $31, andmaintained Equal Weight rating on SPWRA. FBR Capital Markets upgradedSPWRA to Outperform from Market Perform, and raised target price to $40from $22. Collins Stewart upgraded SPWRA from Sell to Hold. PiperJaffray reiterated Overweight rating and maintained price target of $30.
LDK Solar Co., Ltd. (NYSE:LDK) rose 14.7% to$11.81. The company increased its forecasts for Q2:09 revenue andshipment. Lazard Campital Markets maintained Sell rating and pricetarget of $6 on LDK.
China Sunergy Co., Ltd. (NASDAQ:CSUN) rose 11.9% to$5.55. The company pre-announced that its Q2:09 solar cell shipmentswere above its previous guidance of 35MW to 40MW. It also expected toreturn to positive earnings for Q2:09. Lazard Capital Marketsmaintained Hold rating on CSUN.
MEMC Electronic Materials, Inc. (NYSE:WFR) dropped10.3% to $18.72. The company reported Q2:09 earnings yesterday aftermarket close. Barclays Capital downgraded WFR from Overweight to EqualWeight, and maintained $18 target price. Oppenheimer & Co.downgraded WFR from Outperform to Perform. Piper Jaffray maintainedNeutral rating and $17 price target of WFR.
Here is the daily performance ranking of 22 U.S.-listed solar stocks:
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