FBR, AmTech Downgrade Suntech (STP); Stock Down 11%

Earlier, Friedman Billings & Ramsey downgraded Suntech Power Holdings (NYSE: STP) from Market Perform to Underperform and lowered its price target to $4.

Analysts at Broadpoint.AmTech also cut their investment rating on Suntech this morning. The firm lowered the solar stock from Buy to Neutral. UPDATE: Click here to see more color on the firm's downgrade, including reasons for its $7 price target.

Shares of Suntech are tumbling on the two downgrades this morning. The stock is currently down 11% to $9.62. The entire solar sector is seeing downside today as crude oil is trading down to about $37.50. The Suntech downgrades are also likely weighing on the sector.

To track all the rating changes and analyst comments on Suntech, visit StreetInsider.com's Analyst Ratings page for the stock.

Suntech Power Holdings Co., Ltd. designs, develops, manufactures, and markets various photovoltaic (PV) cells and modules to provide electric power for residential, commercial, industrial, and public utility applications worldwide.

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