LDK) which raised $149 million in a secondary offering this week.
TSL) and JA Solar ( JASO) were down roughly 8% for the week, as of mid-day Friday, while Jinko Solar ( JKS) was down 10%. The noise of of Italy caused Collins Stewart to strip JA Solar of its buy rating this week. First Solar ( FSLR), which recently reached a new 52-week high level that typically precedes a sell off in the solar sector, or at least in First Solar shares, has lost $10 from its shares since Goldman Sachs added the solar stock to its conviction buy list with a $165 price target - and said the stock could go 23% higher from there - at the beginning of the week. If there is one good rule of thumb for solar investors, on top of being hesitant to invest in First Solar at a peak, and awaiting German parliament to actually take its vote before assuming things will go as predicted, it's that any time there is uncertainty about the political support for solar, multiples in the sector will remain compressed, regardless of the short-term earnings outlook. -- Written by Eric Rosenbaum from New York.
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