Energy Analyst: TransCanada Shares a Buy Under $40, First Solar Has Risk Ahead, Noble Corp a Top Pick

As Iran escalates global fears of an oil shock and the U.S. government denies the Keystone pipeline deal, here are a few stocks seeing new analysis from brokerage firms today:

TransCanada Corp. (NYSE:TRP): RBC Capital says buy TransCanada below $40. Transcanada’s Keystone Pipeline application was denied by President Obama, but the company may reapply.  Whether or not the Keystone project ever starts, RBC Capital likes shares at $39 and maintains an Outperform.

First Solar, Inc. (NASDAQ:FSLR): Jefferies believes solar rally could stop. The firm sees a lot of negatives for the rally, including coverage of the Solarworld trade case which could impact the rally by mid February. Jefferies sees a myriad of other issues for the rally, including anti-dumping and duties on Chinese solar imports, modules and polysilicon price weakness, and ample inventories. The firm feels prices for solar stocks are not reflecting near-term risks.

Noble Corp. (NYSE:NE): FBR Capital adds Noble Corporation to its Top Picks list. The firm cited valuation and a constricting jackup market. Separately, FBR drops Halliburton (NYSE:HAL) from its Top Picks list. The firm rate NE Outperform with a $45 target.

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