Analyst Update: JA Solar Holdings Co., Ltd., Yingli Green Energy Holding Co Ltd, and Trina Solar Limited

Axiom Capital raised its rating on a selection of solar stocks today, saying it sees "catalysts of both the fundamental & sentiment variety on the horizon, implying the time to BUY is now." Among this bunch were JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), and Trina Solar Limited (ADR) (NYSE:TSL). Here's a quick roundup of Axiom's notes on JASO, YGE, and TSL.

• First up, JASO saw its rating upgraded to "buy" from "sell," and its price target upped to $10 -- roughly in line with last December's annual high. The shares are up 4.4% at $6.88 today, but are struggling to overtake the 80-day moving average, which provided some support through August and September before the stock dropped off sharply. It looks like some bears have been backing off -- or at least collecting profits -- lately. Short interest on JA Solar Holdings Co., Ltd. fell by 31% during the two most recent reporting periods, and now accounts for less than 5% of the stock's total float.

• YGE received an upgrade to "buy" from "sell" at Axiom, which increased its price target on the stock to $5.40 -- a roughly 32% premium over current trading levels. Yingli Green Energy Holding Co Ltd is up 5.4% at $4.10 today, but is still down 9.5% year-to-date. The stock has been in a long downtrend since early 2014, and has increasingly been facing pressure from its overhead 40-week moving average. Still, short sellers could be sweating today's rally. These bearish bets climbed by more than 34% over the past two reporting periods. And though short interest represents just 3.1% of YGE's available float, it would take a full week to cover all of those shorted shares.

• TSL has added 1.2% to trade at $10.38 after its upgrade to "buy" from "sell" at Axiom. The brokerage firm also hiked its price target on the stock to $15 -- a level not seen since September 2014. In the meantime, Trina Solar Limited stock has been hanging near its August 1 close, when the company agreed to be taken private in a $1.1 billion cash deal, valuing TSL at $11.60 per share. In the options pits, nearly 11 of the stock's calls have been bought to open for each put over the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Moreover, the resulting call/put volume ratio 10.89 ranks higher than 77% of all readings taken in the past year.