SAN JOSE, Calif. (
) -- Shares of
surged Friday morning after the solar company's stock was upgraded.
Soleil Securities upgraded shares of SunPower to buy from hold, noting that "checks indicate that a large volume of system development business in the
photovoltaic sector is going to be finalized in the fourth quarter of this year."
SunPower shares jumped 10.2% at midday, to $11.05.
The equity research firm expects SunPower to post earnings of 90 cents per share over the next fourth months.
Earlier this week solar industry peer
experienced mixed broker action, a day after the Chinese manufacturer of solar photovoltaic products
"Trina is speaking for the group and we've heard similar stories from all of Trina's Chinese peers and from
in the U.S.," Auriga analyst Mark W. Bachman told
. By reporting last in the queue of earnings reports in the sector, Trina had more time to look at future demand and was therefore the first to give a real indication that demand in 2011 will be stronger.
Bachman reiterated his buy recommendation, and upped his price target by $5 to $41 per share.
Trina raised its capacity numbers for growth between 40% and 50%, and expects to achieve scale of 1.5 gigawatts by the end of 2011.
by 20% to $36 per share, and reiterated its buy rating on the Chinese solar company's stock. Citi tapped Trina Solar as its "favorite" pick in the solar sector. Research firm
hiked its price target on Trina Solar by 23.1% to $32 per share, from $26, and reiterated its buy rating.
All were not bullish, however.
issued a downgrade on Trina's stock to neutral from overweight.
--Written by Miriam Marcus Reimer in New York.
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