First Solar, SunPower (FSLR, SPWRA) Slammed On Goldman Downgrade
More News related to CSIQ
- Beacon Equity Issues Technical Trade Alerts on Market Movers: PGOG, MRVL, CSIQ, PESI, TXRH, BBND
- Solars Rocketing Higher as Crude Gains (FSLR, SPWRA, LDK, more..)
- Unusual 11 Mid-Day Movers 11/21: DISK, LGND, SOLR, AU Higher; BGP, BHS, FL, MED Lower
- Solars Rise as Merrill Downgrades First Solar (FSLR), SunPower (SPWRA)
- Morning Movers 11/21: Citigroup (C) Bounces After Relentless Selling, Autodesk (ADSK) Lower On Results
More News related to ENER
- Wedbush Downgrades Energy Conversion Devices (ENER) to Hold; Cuts PT to $24
- JA Solar (JASO) Blows Up Solar Stocks Today After Weak Results/Guidance (SOL, SOLF, ESLR, STP, FSLR, MORE...)
- Piper Jaffray Maintains a 'Neutral' on Energy Conversion Devices (ENER), But Lowers Price Target
- Downgrades Catch Up to Solar Stocks (FSLR, SPWRA, STP, more..)
- Notable Analyst Rating Changes 11/10: WFC, MOH, CIM Upgraded; GM, LVS, FSLR, ENER, SPWRA Downgraded
More News related to ESLR
- Morning Movers 11/21: Citigroup (C) Bounces After Relentless Selling, Autodesk (ADSK) Lower On Results
- David Moenning's Daily State of the Markets: 11/18
- Notable Analyst Rating Changes 11/18: CHS, CBRL, MDTH, DIS Upgraded; KO, PEP, K, DT, ESLR Downgraded
- J.P. Morgan Downgrades Evergreen Solar (ESLR) to Underweight
- JA Solar (JASO) Blows Up Solar Stocks Today After Weak Results/Guidance (SOL, SOLF, ESLR, STP, FSLR, MORE...)
First Solar (Nasdaq: FSLR) and SunPower (Nasdaq: SPWRA) are under heavy pressure this morning after Goldman Sachs downgraded both solar stocks from Buy to Sell. First Solar was placed on the firm's Conviction Sell List.
First Solar is down 13% and SunPower is down 12%.
Goldman said the solar companies will miss earnings estimate over the next six months due to an oversupply of products. The firm said pricing will have to adjust strongly downward, which will lead to lower earnings.
The firm said First Solar and SunPower are the two best solar companies, but even these companies will face headwinds.
Other solar stocks, unrelated to the call, are also under pressure this morning:
MEMC Electronic (NYSE: WFR) 1% LOWER
Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) 8% LOWER
Evergreen Solar Inc. (Nasdaq: ESLR) 7% LOWER
Suntech Power Holdings Co. Ltd. (NYSE: STP) 10% LOWER
Trina Solar Ltd. (NYSE: TSL) 10% LOWER
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) 11% LOWER
ReneSola Ltd. (NYSE: SOL) 4% LOWER
Canadian Solar Inc. (Nasdaq: CSIQ) 11% LOWER
Energy Conversion (Nasdaq: ENER) 10% LOWER
Claymore/MAC Global Solar Energy ETF (NYSE: TAN) 6% LOWER
Related Categories
DowngradesInsiders' Blog
Stocks Mentioned
-0.22
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
