Schaeffer's Trading Floor Blog
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Analysts at Jefferies made their way through the solar sector today, adjusting their price targets and ratings on a slew of stocks. Canadian Solar (CSIQ) was singled out for an upgrade, while sector peers First Solar, Inc. (FSLR), SunPower Corporation (SPWRA), and Trina Solar Limited (TSL) all scored price-target increases. Here's a quick rundown of today's analyst actions:

  • Jefferies hiked its price target on FSLR to $160 from $142, but simultaneously backed its lukewarm "hold" rating on the security. The stock is fractionally lower at last check, with FSLR hovering near $148.72 this afternoon -- but following a recent rally, the shares are probably due for some consolidation. The stock's Relative Strength Index (RSI) is docked at 73, pointing to a short-term overbought situation.
  • SPWRA saw its price target lifted to $15 from $13, but Jefferies also maintains a middling "hold" rating on the shares. The equity has elbowed its way higher today, though, adding 0.5% at last check to trade at $14.38. SPWRA has shed nearly 40% year-to-date, but has flexed a little muscle on the charts lately. Currently, the shares are poised to notch a second consecutive weekly finish above their 10-week and 20-week moving averages, which previously served as staunch double-barreled resistance.
  • Finally, Jefferies upped its price target on TSL to $42 from $38 and reiterated its "buy" opinion. The stock has bounced to a gain of 4.2% as a result, with TSL testing the waters above the round-number $30 region. In fact, the shares are now within striking distance of annual-high territory; TSL's current 52-week peak stands at $31.18. With 6.7% of the equity's float sold short, a rush to cover by bearish bettors could help the security climb to a new annual high during the short term.


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