There is a sector downgrade from Deutsche Bank today in the solar sector. Due to the rally from China’s stimulus package, the pre-market rally in stocks and oil prices, and the hopes that the Obama administration will juice the sector, most of these stocks are actually indicated higher in early pre-market trading:
- Canadian Solar (NASDAQ: CSIQ) Cut to Hold from Buy.
- Energy Conversion Devices (NASDAQ: ENER) Cut to Hold from Buy.
- First Solar (NASDAQ: FSLR) Cut to Hold from Buy.
- Sunpower (NASDAQ: SPWRA) Cut to Hold from Buy.
- Suntech Power (NYSE: STP) Cut to Sell from Hold.
So far this round of downgrades is falling on deaf ears.
Jon C. Ogg
November 10, 2008