This Just In: Upgrades and Downgrades

   Date:2011/06/29

At The Motley Fool, we poke plenty of fun at Wall Street analysts and their endless cycle of upgrades, downgrades, and "initiating coverage at neutral." Today, we'll show you whether those bigwigs actually know what they're talking about. To help, we've enlisted Motley Fool CAPS to track the long-term performance of Wall Street's best and worst.

Shining a light
Two of the biggest names in stock picking are out today with a slew of ratings for the biggest names in solar power. First up: Jefferies and First Solar (Nasdaq: FSLR  ) .

Ranked in the top 10% on CAPS, Jefferies had little good to say about First Solar today. Sticking with its "hold" rating on the stock, the analyst knocked $12 off its price target (which is now $133) and warned that First Solar's Q2 earnings report may include an earnings warning for the rest of the year. Regardless, investors are accentuating the positive aspects of Jefferies' advice, focusing on the fact that the stock currently sits well below the new price target -- and bidding the shares up more than 4% in response.

Source:Rich Smith

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