Solar energy products makers rise as analysts upgrade shares, praise sector's fundamentals
Shares of solar energy products makers rose Wednesday after an analyst upgraded shares of a solar wafer maker and another analyst praised the sector's strong fundamentals.
Jefferies & Co. analyst Paul Clegg raised Evergreen Solar Inc. to "Buy" from "Hold" in a note to investors, saying the stock's recent price decline makes it an attractive buy.
Evergreen shares rose 99 cents, or 11.9 percent, to $9.45. The stock ended Tuesday's trading down 55 percent from a 52-week high of $18.85 in December.
Meanwhile, Citigroup analyst Jim Liang told clients that "solar fundamentals are currently very strong, with the rising tide lifting all boats, driven by generous feed-in tariffs on the demand side and tight poly(silicon) on the supply side."
Polysilicon is a key ingredient in solar cells.
Liang singled out Suntech Power Holdings Co. Ltd. as a favorite because weakening prices in the second half of the year could shake out the industry and leave Suntech in a stronger relative position....MORE
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