The solar industry has been all over the place recently, and solar companies like JA Solar (Nasdaq:JASO), which was upgraded by Canaccord Genuity, and Sunpower (Nasdaq:SPWRA) and Suntech Power (NYSE:STP), which were downgraded, and been all over the place as well.
It'll be surprising if the unpredictable solar energy stocks keep the upward momentum, as there isn't a lot of reasons for them to do so, as while there is some increasing demand in some countries, the margins remain under pressure.
Here's what Canaccord said about select solar stocks:
"Specifically, we are upgrading JA Solar to a BUY rating from Hold, recommending that investors overweight this name relative to other solar stocks."
"Concurrently, we are downgrading both Suntech to a SELL rating from Hold and SunPower to a SELL rating from a Hold, recommending that investors underweight these names as we believe these companies will underperform the general solar universe."
"We maintain our Buy ratings on Canadian Solar (NASDAQ:CSIQ) Solarfun (NASDAQ:SOLF) and Hold rating on First Solar (NASDAQ:FSLR)."
The price target on JA Solar was raised from $7 to $11, on Sunpower it was slashed from $30 to $11, and on STP from $9 to $7.
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