While selling solar stocks in the face of a down leg in crude prices seems awfully short-sighted, that certainly seems like factor in the intense wave of selling that has swept up on the solar stocks in recent sessions. In fact, the Street revised view on the sector spurred Calyon Securities analyst George Kotzias this morning to cut his price targets this morning on Energy Coversion Devices (ENER), Evergreen Solar (ESLR), First Solar, SunPower (SPWR) and MEMC Electronic Materials (WFR), although he maintains Buy ratings on all of those stocks. “We maintain our long-term confidence in the solar sector,” he writes. “However, we believe that investors are unwilling to pay as much for the earnings of solar shares due the change in the sectors’ risk/reward profile.”
Kotzias’ new target for ENER is $102, down from $85. For ESLR, $12, from $17. For FSLR, $302, from $375. For SPWR, $92, from $100. For WFR, $56, from $70.
WFR stock is at 32....target 56. Must be time to sell. LOL
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