Stocks Downgrades: ETR, SHAW, STP, SPWRA, TSL
Monday, March 14, 2022 11:23 AM



Stocks have fallen to session lows as weakness becomes increasingly widespread. Half of the major sectors in the S&P 500 are now down with losses in excess of 1 percent.

Volatility has heated up amid this session's stiff selling. Specifically, the Volatility Index is up almost 9 percent.

Downgrades:

Analysts at BMO Capital downgraded Entergy (NYSE: ETR) to market perform from outperform. BMO Capital believes the nuclear crisis in Japan will impact the relicensing of the Vermont Yankee nuclear plant. ETR is trading low by 2.56 percent at $71.80.

Shaw Group (NYSE: SHAW) has been downgraded by DA Davidson to neutral from buy. The firm believes that the problems with nuclear reactors in Japan could negatively impact the prospects of building new nuclear plants. The stock is trading at $31.27, down 18.58 percent.

Piper Jaffray downgraded Suntech (NYSE: STP) to underweight from neutral citing the earthquake in Japan and the resulting poly supply disruptions, which will result in higher costs, and reduced Japanese demand. STP is trading 4.60 percent up at $8.41.

The shares of SunPower (Nasdaq: SPWRA) have been downgraded to neutral from overweight by Piper Jaffray. The downgrade came after the firm cited the earthquake in Japan and the resulting poly supply disruptions, which will result in higher costs, and reduced Japanese demand. The company’s shares are trading high at $14.34, by 0.49 percent.

Piper Jaffray downgraded Trina Solar (NYSE: TSL) to neutral from overweight citing the earthquake in Japan and the resulting poly supply disruptions, which will result in higher costs, and reduced Japanese demand. TSL is trading 7.51 percent high at $26.05


 

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