Raymond James Upgrades (FSLR) (SPWR) (STP) (TSL) in 'Tactical' Move
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Price: $54.89 --0%
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 19
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 19
Trade FSLR Now!
Raymond James analyst Pavel Molchanov closed out his commodity solar short Wednesday. As a result, he upgraded ratings on First Solar, Inc. (NASDAQ: FSLR), SunPower Corporation (NASDAQ: SPWR), Suntech Power Holdings Co. Ltd. (NYSE: STP) and Trina Solar Limited (NYSE: TSL) from Underperform to Market Perform.
Molchanov said the reason for these "purely tactical" upgrades is simple: "we think the risk/reward balance has shifted towards a more neutral stance." He notes that four of the commodity solar stocks they cover are down by more than 13% from their 52-week highs - "which have been invariably set earlier this year, in the context of the aforementioned high yield rally."
After the initial high yield rally, the analyst views the recent weakness in these and other commodity solar stocks as a sign of a return to more rational trading.
Overall, the analyst thinks the downside is more limited now.
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Molchanov said the reason for these "purely tactical" upgrades is simple: "we think the risk/reward balance has shifted towards a more neutral stance." He notes that four of the commodity solar stocks they cover are down by more than 13% from their 52-week highs - "which have been invariably set earlier this year, in the context of the aforementioned high yield rally."
After the initial high yield rally, the analyst views the recent weakness in these and other commodity solar stocks as a sign of a return to more rational trading.
Overall, the analyst thinks the downside is more limited now.
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