Trina (TSL) (AKS) (KGI) (RIG) (EPL) Ratings Changes

Trina Solar (TSL), AK Steel Holding Co. (AKS), Kirkland Lake Gold Inc. (KGI), Transocean (RIG) and Energy Partners, Ltd. (EPL) had ratings on them changed or initiated by analysts.

Credit Agricole downgraded AK Steel Holding Co. (AKS) from an "Underperform" rating to a "Sell" rating.

CIBC downgraded Kirkland Lake Gold Inc. (KGI) from an "Outperform" rating to a "Sector Perform" rating.

Guggenheim downgraded Transocean (RIG) from a "Buy" rating to a "Neutral" rating. They have a price target of $50.00 on the company.

Raymond James downgraded Trina Solar (TSL) from a "Market Perform" rating to an "Underperform" rating.

Brean Murray initiated coverage on Energy Partners, Ltd. (EPL). They placed a "Buy" rating on the company.

Trina (TSL) (FST) (INT) (FIRE) (CUBE) (IVR) (TASR) Ratings, Price Targets

Trina Solar (TSL), Forest Oil Co. (FST), World Fuel Services Co. (INT), Sourcefire, Inc. (FIRE), C-Cube Micro (CUBE), Invesco Mortgage Capital Inc (IVR) and TASER International, Inc. (TASR) had ratings and price targets on them adjusted by analysts.

Canaccord Genuity downgraded Forest Oil Co. (FST) from a "Buy" rating to a "Hold" rating.

Evercore Partners downgraded World Fuel Services Co. (INT) from an "Overweight" rating to an "Equal Weight" rating.

UBS AG downgraded Sourcefire, Inc. (FIRE) from a "Buy" rating to a "Neutral" rating.

Wells Fargo & Co. downgraded Trina Solar (TSL) from an "Outperform" rating to a "Market Perform" rating.

Robert W. Baird downgraded C-Cube Micro (CUBE) from an "Outperform" rating to a "Neutral" rating.

Guggenheim downgraded Invesco Mortgage Capital Inc (IVR) from a "Buy" rating to a "Neutral" rating.

Craig Hallum downgraded TASER International, Inc. (TASR) from a "Buy" rating to a "Hold" rating.

Trina (TSL) (PXD) (NBL) (APA) (APC) (DNDN) (DVN) Ratings, Price Targets

Trina Solar (TSL), Pioneer Natural Resources (PXD), Noble Energy (NBL), Apache (APA), Anadarko Petroleum (APC), Dendreon Co. (DNDN) and Devon Energy Co. (DVN) had ratings and price targets on them adjusted by analysts.

Guggenheim initiated coverage on Pioneer Natural Resources (PXD). They placed a "Neutral" rating on the company.

Brigantine initiated coverage on Trina Solar (TSL). They placed a "Hold" rating on the company.

Guggenheim initiated coverage on Noble Energy (NBL). They placed a "Buy" rating on the company.

Guggenheim initiated coverage on Apache (APA). They placed a "Buy" rating on the company.

Guggenheim initiated coverage on Anadarko Petroleum (APC). They placed a "Buy" rating on the company.

Citigroup initiated coverage on Dendreon Co. (DNDN). They placed a "Neutral" rating on the company.

Guggenheim initiated coverage on Devon Energy Co. (DVN). They placed a "Buy" rating on the company.

Trina Solar (TSL) (LLY) (MYL) (RAX) (SRI) Ratings, Price Targets

Trina Solar (NYSE:TSL), Eli Lilly (NYSE:LLY), Mylan Labs (NASDAQ:MYL), Rackspace (NYSE:RAX) and Stoneridge (NYSE:SRI) had ratings and price targets on them adjusted by analysts.

ISI Group initiated coverage on Eli Lilly (LLY). They placed an "Hold" rating on the company.

Mylan Labs (MYL) was upgraded by Goldman Sachs (NYSE:GS) froma "Neutral" rating to a "Buy" rating.

Rackspace (RAX) was upgraded by Benchmark Company from a "Hold" rating to a "Buy" rating. They have a price target of $60.00 on the company.

Stoneridge (SRI) was downgraded by KeyBanc Capital from a "Buy" rating to a "Hold" rating.

Trina Solar (TSL) was downgraded by Auriga from a "Buy" rating to a "Hold" rating.

Trina Solar (TSL) (NEE) (GRPN) (CHD) (GNC) (INHX) (ALU) Ratings, Price Targets

Trina Solar (NYSE: TSL), NextEra Energy, Inc. (NYSE: NEE), Groupon (NASDAQ: GRPN), Church & Dwight Co Inc. (NYSE: CHD), GNC Corp. (NYSE: GNC), Inhibitex (NASDAQ: INHX) and Alcatel Lucent (NYSE: ALU) ratings, EPS and price targets.

Trina Solar (TSL) was downgraded by Brigantine from a “Buy” rating to a “Hold” rating.

Wunderlich reiterated its "Hold" rating on NextEra Energy, Inc. (NEE). They have a price target of $57.00 on the company.

Susquehanna initiated coverage on Groupon (GRPN). They placed a “Neutral” rating on the company.

Church & Dwight Co Inc. (CHD) had its EPS estimates raised by Jefferies (NYSE:JEF). They have a “Hold” rating and a price target of $43.00 on the company.

GNC Corp. (GNC) had its price target raised by Goldman Sachs (NYSE:GS) to $29.00. They have a “Neutral” rating on the company.

Inhibitex (INHX) had its price target raised by Canaccord Genuity from $7.00 to $15.00. They have a “Buy” rating on the company.

Alcatel Lucent (ALU) was downgraded by WestLB from a “Reduce” rating to a “Sell” rating.

Trina Solar (NYSE:TSL) Has Strong Competitive Position, Low Cost Structure

While acknowledging the solar sector has a good third quarter, Wedbush doesn't see that continuing, and among the major competitors, only rates Trina Solar (NYSE:TSL) as an "Outperform."

Wedbush said that "given the company’s low cost structure and competitive position," they remain positive on the company.

When reporting on November 15, Trina should report quarterly sales of $419.2 million GAAP EPS of 88c, concluded Wedbush.

Trina closed Wednesday at $27.60, gaining $0.13, or 0.47 percent. Wedbush has a price target of $34 on them.

Suntech Power (NYSE:STP), ReneSola (NYSE:SOL), Trina (NYSE:TSL) and Yingli (NYSE:YGE) Among Leading China Solar Companies

Deutsche Bank AG (NYSE:DB) continues to like the Chinese solar sector, and among its favorites are Suntech (NYSE:STP), ReneSola (NYSE:SOL), Trina (NYSE:TSL) and Yingli (NYSE:YGE).

Suntech they upgraded from "Hold" to "Buy."

Deutsche said, "We expect the leading China solar PV manufacturers to report strong sets of results in 3Q10E and 4Q10E, and believe this momentum should be further extended beyond 2010 due to a more stable module ASP outlook in 1Q11 qoq. Module ASP may start to drop in 2Q11E but we think this risk is likely to be overcome by the ongoing effort to reduce manufacturing costs. The sector trades at an inexpensive valuation of 5-7x 2011E P/E; we reiterate Buy on ReneSola, Trina and Yingli, and upgrade Suntech to Buy.

"We remain bullish on ReneSola despite the 66% increase in share price in the past three months. We reiterate Buy on Trina mainly on its manufacturing cost leadership. We also like Yingli but see possible near-term pressure on 3Q10E gross margins due to the additional ramp-up cost from its polysilicon facility and new production lines. We upgrade Suntech as we believe the stock now offers an attractive risk-adjusted reward return after a year of share underperformance and expect the company to secure new wafer capacity in the near term."

All the companies took hard hits Tuesday, with Yingli dropping to $11.83, falling $1.15, or 8.86 percent. Trina closed at $26.26, losing $1.67, or 5.98 percent. Renesola closed the session at $12.17, falling $1.22, or 9.11 percent. Suntech was down $8.85, down $0.59, or 6.25 percent.

Yingli (NYSE:YGE), Jinko (NYSE:JKS), Trina (NYSE:TSL) Reflect Mixed Solar

The solar industry continues to perform all over the map, at least as far as analyst coverage goes, and the latest news has Jinko Solar (NYSE:JKS) and Jinko Solar (NYSE:JKS) downgraded, while Yingli and Trina Solar (NYSE:TSL) has coverage initiated on them by RBS (NYSE:RBS).

As far as the downgrades of Yingli (NYSE:YGE) and Jinko Solar (NYSE:JKS), that came from Oppenheimer, who cut them both from "Outperform" to "Perform."

Jinko Solar closed the week at $26.76, losing $1.81 on Friday, or 6.34 percent. Oppenheimer has a price target of $31 on them increasing it from their prior price target of $25.

For Yingli, they closed Friday at $12.77, falling $0.45, or 3.40 percent. They have a price target of $14 on them from Oppenheimer.

For RBS, they initiated coverage on Trina and Yingli, starting them both off at "Outperform." They have a price target on Yingli of $38, and a price target of $17 on Trina.

Trina closed Friday at $28.53, losing $0.46, or 1.59 percent.

First Solar (Nasdaq:FSLR), Trina Solar (NYSE:TSL), Suntech (NYSE:STP),

Jefferies has given the solar industry a lot of love, raising the price

targets on First Solar (Nasdaq:FSLR), Trina Solar (NYSE:TSL), Suntech (NYSE:STP), JA Solar (Nasdaq:JASO), Yingli Green Energy (NYSE:YGE), Solarfun Power Holdings (Nasdaq:SOLF) and SunPower Corporation(Nasdaq:SPWRA).

The bump up in price targets for all the companies came from a trip the recently took in Asia and Europe, where they based the upwardly revised share prices on higher ASPs for every company.

First Solar's price target was raised from $142 to $160; JA Solar from $10 to $14, a 40 percent increase; Solarfun from $14 to $17, with a "Buy" maintained; SunPower from $13 to $15, reiterating a "Hold" on them; Suntech was raised from $10 to $11, maintaining a "Hold" on the company; Trina Solar was upped from $38 to $42, retaining a "Buy" rating; and Yingli Green Energy was increased from $17 to $20, also having a "Buy" maintained on the company.

Some analysts have questioned some companies in the sector, based on valuations and the sustainability of growth in some regions of the world; one of them being Germany.

HSBC (NYSE:HBC) Downgrades Trina Solar (NYSE:TSL)

Although some of the solar companies have given optimistic guidance after their recent quarterly reports, specifically in reference to growth, companies like Trina Solar (NYSE:TSL), and others, show there is a strong weakness in margins, and that will continue to weight down the solar sector, and consequently, HSBC (NYSE:HBC) downgraded them from "Overweight" to "Neutral."

The price target was also lowered from $31 to $27.

Even with the downgrade and lowering of the price target, it does give room for some growth for Trina.

It seems this is a response to the aggressive expansion guidance in light of pressured margins, which of course could crush earnings in the industry.

Almost all the major solar competitors said the same thing, seeming to indicate they're worried and concerned about the economic conditions, but are ignoring them and pushing forward, based on demand, according to the companies.

The result will almost assuredly be consolidation, as these companies aren't in position to expand in a low margin atmosphere, and some of them will be weakened going forward, preparing the way for some to be taken over.

Citigroup (NYSE:C) Maintains "Buy" on Trina Solar (NYSE:TSL)

Trina Solar (NYSE:TSL) remains in the good graces of Citigroup (NYSE:C), as the banking giant maintained its "Buy" rating on the company.

Citi also raised its price target on the company from $30 to $36.

Trina continues to be the favorite pick of Citigroup in the solar sector, citing "its strong balance sheet, more measured approach to the systems business, leading cost position, and budding track record for execution.”

Citi said they liked the gross margins of the company, which should continue to be strong, and improve in the second half of 2010, assuming prices remain stable and more cost downs.

The idea they can expand in a larger way and pay for it through operating cash flow is a positive for the company as well, as the overall solar sector has been punished with low margins at a time when demand seems to be growing.

That's the best case scenario, but increasing the outsourcing of wafers/cells, along with the real possibility of supply of poly tightens up, which could put pressure on margins.

First Solar (Nasdaq:FSLR), Suntech (NYSE:STP), Yingli (NYSE:YGE), Trina Solar (NYSE:TSL): Long Struggle Ahead

Major public solar energy companies like First Solar (Nasdaq:FSLR), Suntech Power Holdings (NYSE:STP), Yingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL), and their shareholders, are in for a long, difficult journey, as things could get much worse before they get better, if better can even be defined in the current economic environment.

Even when you take these types of politically correct companies and present them in the most positive light, like many commentators like to do, in the end it's one of the last industries you want to be in if you're looking at making money or conserving your capital.

A lot is being made about some of these companies starting to pare down costs, which is a good thing, but they should have been doing this for a long time, as the cost is high and margins low.

That means the wealthier people in the best of times are the consumers of this energy, and when the economy gives a big hiccup like it has been, with little positive outlook in the near future, solar is looked upon as exotic, rather than alternative energy, and those who invest as a support to the industry aren't going to lose their capital in that pursuit.

Even the companies, when they enjoy solid margins, like Yingli did recently, still lost money, as they paid down debt and lost on derivatives.

When you have the growing revenue like these companies have, and they continue to lose money, it's obvious the industry isn't sustainable, and like it or not, everyone needs to take a second look at it, and very carefully at that.

Talk of increased demand is meaningless if the supply of that demand isn't profitable. After all, anyone can sell a product at a loss. How hard is that?

No matter how some supporters want to spin the industry, it's dead in the water right now, and even though most of the above companies are going to push out revenue in an attempt to look like they're growing, the bottom line is still the bottom line, and if they can't do it at a profit, they're in for a long struggle, if they survive at all.