NEW YORK (
) -- Solar analysts are in the holiday gift-giving mood when it comes to
Suntech Power Holdings
Today was the second consecutive day that a sector analyst upgraded JA Solar and Suntech. However, while yesterday's upgrade typified the recent frenzied trading in solar stocks triggered by bullish comments from analysts and solar management, the sizzle was muted today.
Yesterday, it was a Barclays Capital upgrade on a trio of solar stocks, including these JA Solar and Suntech, that sent trading in solar towards the sun itself -- by the end of trading on Monday, the Barclays upgraded stocks, which also included
, were all up between 9% and 12%.
Thomas Weisel Partners
analyst Jeff Osborne raised his ratings on both JA Solar and Suntech to market weight from underweight. The Weisel analyst cited "improving market conditions in the global solar market."
Solar shares were mixed overall at mid-day Tuesday, and JA Solar and Suntech, which already had a run-up yesterday, did not move significantly on the most recent analyst positive outlook. Suntech was virtually flat at mid-day, and JA Solar was down, giving back 1% of its rapid appreciation from Monday.
Pricing trends were a big factor in the Weisel upgrades: "After a collapse of nearly 50% in pricing from late 2008 to now, we are finally seeing the bottom for the solar sector," the Weisel analyst noted.
The Weisel price target on JA Solar went from $3 to $4 and from $12 to $14 in the case of Suntech. Barclays was more bullish, raising the companies to outperform and the price targets to $6 for JA Solar and $20 for Suntech.
The bullish start to the Week in Solar was a surprise to some sector analysts, who continue
to view the uncertainty in the German market and with the German feed-in tariff as the most important to-be-determined event in the solar sector.
-- Reported by Eric Rosenbaum in New York.
>>Barclays Boosts Three Solar Companies
>>Yingli Nabs Largest German Deal
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