BofA on Alt-Energy Stocks: Upgrades AONE, CVA, AEP, Downgrades CREE, ENOC, CLNE, LEDS

May 17, 2011 9:03 AM EDT
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Price: $8.56 --0%

Rating Summary:
    3 Buy, 5 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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Analysts at BofA Merrill revised ratings on stocks in the alt-energy group Tuesday morning.
  • upgraded A123 Systems (Nasdaq: AONE) from Neutral to Buy
  • upgraded Covanta (NYSE: CVA) from Neutral to Buy
  • upgraded American Electric Power (NYSE: AEP) from Neutral to Buy
  • downgraded CREE (Nasdaq: CREE) from Neutral to Underperform
  • downgraded EnerNOC (Nasdaq: ENOC) from Neutral to Underperform
  • downgraded Clean Energy Fuels (Nasdaq: CLNE) from Neutral to Underperform
  • downgraded SemiLEDs (Nasdaq: LEDS) from Neutral to Underperform
The firm said it remains cautious on alt-energy companies with expensive products which require subsidies. BofA's top picks are: First Solar (Nasdaq: FSLR) and Ameresco (Nasdaq: AMRC).

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