DeVry (DV) (SLE) (AMSC) (ENS) (AVGO) Price Targets Changed

DeVry Inc. (NYSE: DV), Sara Lee (NYSE: SLE), American Superconductor Co. (NASDAQ: AMSC), EnerSys (NYSE: ENS) and Avago Technologies (NASDAQ: AVGO) price targets adjusted by analysts.

Sara Lee (SLE) had its price target lowered by Deutsche Bank (NYSE:DB) from $22.00 to $20.00. They have a “Buy” rating on the company.

American Superconductor Co. (AMSC) had its price target lowered by Ardour Capital from $8.50 to $6.50. They now have a “Hold” rating on the company.

EnerSys (ENS) had its price target lowered by Needham & Company from $42.00 to $36.00. They have a “Buy” rating on the company.

Avago Technologies (AVGO) had its price target lowered by Citigroup (NYSE:C) to $40.00. They have a “Buy” rating on the company.

DeVry Inc. (DV) had its price target lowered by UBS AG (NYSE:UBS) from $75.00 to $70.00. They have a “Buy” rating on the company.

Wind Turbine Demand Crumbling as (AMSC) Crushed on Shipment Halt

The refusal of China-based Sinovel Wind Group Co. to accept any more shipments of components and parts resulted in the heavy punishment of shares of American Superconductor (NASDAQ:AMSC), of which Sinovel is its largest customer.

Some say this is the consequence of the company relying too much on the wind turbine manufacturer, but in fact the overall industry is under pressure as demand for wind turbines plummet.

High inventory levels were given as the reason for the refusal to accept shipment of the parts by Sinovel, which is another way of saying it can't sell its turbines.

Major turbine manufacturers from India have also been searching for markets outside of their traditional base, as demand for turbines dry up, expected to continue to be 30 percent below 2009 levels through 2011.

Sinovel accounted for close to 75 percent of American Superconductor’s total revenue for the nine month period ending December 31, 2010.

Shorting Tesla Motors (TSLA), Zoltek (Nasdaq:ZOLT) and American Superconductor (Nasdaq:AMSC)

Tesla Motors (TSLA), Zoltek (Nasdaq:ZOLT) and American Superconductor (Nasdaq:AMSC) are all the target of shorts, especially from hedge funds no longer believing the so-called renewable energy stocks will be as viable with the change of leadership in the U.S.

Canaccord noted, "According to Bloomberg, hedge funds have increased their short interest in U.S. renewable energy stocks to the highest level in a year, elevating bets against Tesla Motors especially. The bearish sentiment comes as government support for low-polluting technologies is faltering: with the recent Republican wins in U.S. mid-term elections, U.S. President Barack Obama has said he may be unable to reduce U.S. greenhouse-gas emissions. Republicans are seeking to roll back Environmental Protection Agency rules limiting carbon venting, ease curbs on coal mining and may try to block billions of dollars in federal subsidies for clean power. An analyst at Bloomberg New Energy Finance in London thinks this Republican opposition is a "huge deal". He noted the lack of an international agreement on climate change and short-term uncertainty on policy support across the globe "makes the sector fairly susceptible to predatory trades from hedge funds.” Seventeen percent of the freely traded shares of the 35 U.S. stocks in the WilderHill New Energy Index are currently sold short, compared with 16% in October and 15% in August, Bloomberg notes. That’s almost four times the 4.4% short ratio of the S&P 500. The most-shorted stock in this index is California electric carmaker Tesla Motors; investors had shorted 65% of Tesla’s free-float as of November 15. Others that are heavily shorted include Zoltek (Nasdaq:ZOLT), a maker of carbon fiber for blades used in wind turbines, and American Superconductor (Nasdaq:AMSC), whose converters connect turbines to power grids."

Tesla closed Friday at $31.49, down by $0.86, or 2.66 percent. American Superconductor was down to $33.36, falling $0.10, or 0.30 percent. Zoltek was at $9.61, up by $0.09, or 0.95 percent.