Friday, January 11, 2008

Akeena Leads Gains in Solar Stocks Following Sell-Off on Cheaper Oil, but Others Decline (AKNS; ESLR; FSLR; SPWR)

From the Associated Press:

Some solar-power stocks rebounded on Friday following a recent sell-off sparked by lower oil prices and fears of a U.S. economic recession.

Akeena Solar Inc. led the sector, with shares advancing 63 cents, or 5.9 percent to $11.26 in midday trading. At Thursday's close of $10.63, the stock was down more than 29 percent for the week.

Calyon Securities analyst Kelly Dougherty reiterated "Buy" ratings on SunPower Corp., First Solar Inc., and Evergreen Solar Inc. in a note Friday. She noted that SunPower and Evergreen have long-term silicon supply contracts and that First Solar does not rely on the expensive solar-panel component....MORE