Seadrill (SDRL) (ENER) (PDCO) (GEOI) (HEI) Price Targets Changed

Seadrill Ltd (NASDAQ: SDRL), Energy Conversion Devices Inc (NASDAQ: ENER), Patterson Companies Inc (NASDAQ: PDCO), GeoResources, Inc. (NASDAQ: GEOI) and HEICO (NYSE: HEI) price targets adjusted by analysts.

Seadrill Ltd (SDRL) had its price target lowered by Dahlman Rose from $42.00 to $38.00. They have a “Buy” rating on the company.

Energy Conversion Devices Inc. (ENER) had its price target lowered by Ardour Capital from $1.00 to $0.50. They now have a “Reduce” rating on the company.

Patterson Companies Inc. (PDCO) had its price target lowered by analysts at Goldman Sachs (NYSE:GS) to $29.00. They have a “Neutral” rating on the company.

GeoResources, Inc. (GEOI) had its price target lowered by Rodman & Renshaw from $33.00 to $29.00. They have an “Outperform” rating on the company.

HEICO (HEI) had its price target raised by FBR Capital from $52.00 to $56.00. They have a “Market Perform” rating on the company.

Waters (WAT) (ENER) (GEOI) (HIG) (HEI) Ratings Reiterated

Waters (NYSE:WAT), Energy Conversion (NASDAQ:ENER), GeoResources (NASDAQ:GEOI), Hartford Financial (NYSE:HIG) and HEICO (NYSE:HEI) had ratings on them reiterated by analysts.

Wedbush reiterated its rating on Waters (WAT). They have an "Neutral" rating on the company, and cut its price target from $$37 to $32.

Ardour Capital reiterated its rating on (ENER). They have a "Reduce" rating on the company, and cut its price target from $1 to $0.50.

Rodman & Renshaw reiterated its rating on GeoResources (GEOI). They have an "Outperform" rating on the company, and slashed their price target on them from $33 to $29.

Argus reiterated its rating on Hartford Financial (HIG). They have a "Buy" rating on the company, and lowered their price target from $36 to $26.

Wedbush reiterated its rating on HEICO (HEI). They have an "Outperform" rating on the company, and raised their price target from $55 to $57.

Price Targets on (FTEK) (ENER) (EPD) (FOE) (FOSL) Updated

Price targets on shares of Fuel Tech Inc. (NASDAQ: FTEK), Energy Conversion Devices Inc (NASDAQ: ENER), Enterprise Products Partners (NYSE: EPD), Ferro Co. (NYSE: FOE) and Fossil (NASDAQ: FOSL) were updated by analysts.

Brean Murray raised their price target on Fuel Tech Inc. (FTEK) from $10.00 to $11.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) cut their price target on Energy Conversion Devices Inc (ENER) from $2.00 to $1.00. They have a “sell” rating on the company.

Citigroup raised their price target on Enterprise Products Partners (EPD) from $48.00 to $48.50. They have a “buy” rating on the company.

Deutsche Bank (NYSE:DB) cut their price target on Ferro Co. (FOE) from $16.00 to $15.00. They have a “hold” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Fossil (FOSL) from $82.00 to $100.00. They have a “neutral” rating on the company.

Trina (NYSE:TSL), SunPower (Nasdaq:SPWRA), RenaSola (NYSE:SOL), MEMC (NYSE:WFR) Barclays (NYSE:BCS) Top Solar Picks

With demand potential as the defined parameter, along with demand outside of Germany, Barclays said their favorites in the solar sector are Trina (NYSE:TSL), SunPower (Nasdaq:SPWRA), RenaSola (NYSE:SOL) and MEMC Electronic (NYSE:WFR).

Barclays said, "In this volume of Cleantech Insights, we take a look at the 2011 demand potential, particularly of the US and other non-German solar markets. We also provide an overview of the smart grid spending breakdown by key segments. Investor sentiment is at all time lows and recent extension of cash grants in the US is an incremental positive, in our view. Maintain constructive bias on Trina, SunPower, RenaSola and MEMC Electronic. We see near-term downside risk in the case of Jaso Solar (Nasdaq:JASO), Energy Conversion (Nasdaq:ENER) and Evergreen Solar (Nasdaq:ESLR).

"What to do with solar stocks: Data points so far suggest Q1 pricing environment could turn out to be better than most skeptics think. That said, fundamentals would be less important for share price performance until the sector backdrop starts improving. Policy related news flow (particularly from Europe) has been generally negative over the past 6 weeks (Germany, Czech Republic, France, Belgium and Australia). However, with the extension of cash grants program in the US, we expect the backdrop to start getting better. China, India policy support along with resolution of European political uncertainty could drive improved investor sentiment, in our view.

"Solar capex plans: According to company reports, 7 of the 11 solar players were free cash flow positive during Q3, while 5 of these 11 companies (TSL, Suntech (NYSE:STP), China Sunenergy (Nasdaq: CSUN), SOL, and FSLR) have been free cash flow positive for the first 9 months. For 2011, we expect solar companies to spend - $3.8 billion in capex, representing - 30% YoY growth."

MEMC closed Monday at $11.84, down $0.19, or 1.58 percent. SunPower ended at $13.58, down $0.20, or 1.45 percent. RenaSola was down to $8.30, dropping $0.45, or 5.14 percent.

Trina Solar (NYSE:TSL), ReneSola (NYSE:SOL), JA Solar (Nasdaq:JASO), Evergreen Solar (Nasdaq:ESLR), Energy Conversion (Nasdaq:ENER) Outlook from Barcl

Barclays took a look at several companies within the solar industry, including Trina Solar (NYSE:TSL), ReneSola (NYSE:SOL), JA Solar (Nasdaq:JASO), Evergreen Solar (Nasdaq:ESLR), Energy Conversion (Nasdaq:ENER), and gave their outlook on them for 2011 EPS estimates.

Their favorites were Trina Solar and ReneSola, which they said tracked well on the risk-reward metric for EPS.

For JA Solar Holdings, Evergreen Solar and Energy Conversion Devices, they maintain near term caution on them.

Barclays said, "In this note, we take a look at 2011 EPS sensitivity in bull/bear case scenarios and also examine quarterly low cost capacity/supply demand outlook. Both Trina Solar (NYSE: TSL) and ReneSola (NYSE: SOL) screen attractively on the risk-reward metric highlighted in the 2011 EPS analysis. Maintain near term caution on JA Solar Holdings, Evergreen Solar and Energy Conversion Devices.

"Second "gold rush" continues, however policy action inhibiting demand elasticity likely accelerating: Recall our demand thesis - greater availability of low cost supply, relatively attractive economics and upcoming subsidy cut catalysts could continue to drive demand upsides in 2011. Greater supply availability and stronger-than-expected demand in non-German markets are the primary factors driving demand upside and resilient pricing.

"Key Themes for 2011: (i) Poly/wafer supply constraints would likely continue in 2011, (ii) Vertical integration would become even more important in 2011, (iii) OEM business models would do well and growth in this segment could outstrip growth in traditional solar module segment, (iv) Bankability would act as a source of differentiation in order to drive volumes and not maintain pricing, (v) Equipment cycle may still have some legs (particularly poly/wafer equipment players) - capex budgets expected to increase in 2011, (vi) Demand upsides would likely continue, (vii) Investor sentiment could continue to get worse, (viii) Downstream acquisitions could become even more important, (ix) 2011 could see greater divergence in performance of winners/losers."

Trina closed Monday at $24.15, up by $0.44, or 1.86 percent. ReneSola closed at $9.36, gaining $0.31, or 3.43 percent. JA Solar ended the session at $7.57, up by $0.20, or 2.71 percent. Energy Conversion closed the day at $4.67, increasing $0.09, or 1.97 percent. Evergreen closed at $0.84, up by $0.05, or 6.33 percent.