HSBC Upgrades Suntech (STP) to Neutral, Downgrades Yingli (YGE) to Underweight, Starts Trina (TSL) at Overweight

November 16, 2009 8:42 AM EST

This morning, HSBC has made several changes to it's ratings on a couple of Solar stocks:

• Trina Solar (NYSE: TSL) started with an Overweight rating and a $58 price target. With the stock trading around $40.50 in the pre-market session (up 2% from Friday's closing price), the firm's new price target represents potential upside of about 43%.
  
• Suntech Power Holdings (NYSE: STP) upgraded from Underweight to Neutral. The firm also raised its price target from $9 to $15.30. Shares of Suntech have surged nearly 5% this morning, most recently trading around $14.40.
  
• Yingli Green Energy (NYSE: YGE) downgraded two-notches from Overweight to Underweight. The firm also slashed its price target from $16 to $12. Despite the downgrade, shares are rising this morning amid an upgrade to Buy at JMS. The stock most recently traded at $13.80, which represents potential downside of about 13% to HSBC's new target.

Taking a look at the group from a broad perspective, shares of the Claymore/MAC Global Solar Index ETF (NYSE: TAN), cleverly tickered "the TAN", is up 0.9% in pre-session trading.

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