Canaccord analysts made their way through the solar sector this morning, with the brokerage firm initiating coverage on 3 stocks in the group. SolarFun Power (SOLF: sentiment, chart, options) was initiated with a "hold" rating and a $12 price target, while JA Solar (JASO: sentiment, chart, options) was started with a "buy" rating and a $19 price target. The firm also said it considers Canadian Solar (CSIQ: sentiment, chart, options) a "buy," and placed a $43 price target on the shares.

All 3 equities started the day out in positive territory, but CSIQ and SOLF have since slipped into the red. SOLF's new price target represents a discount of 0.8% to its closing price yesterday, suggesting that Canaccord is looking for the stock to pull back. Meanwhile, JASO's price target is a 28% premium to Monday's close, while CSIQ's target is a lofty 59% above its settlement price yesterday.

Of the trio, JASO gets the most love from analysts. The equity boasts 9 "buy" or better ratings, compared to CSIQ's 4 bullish opinions and SOLF's lone "strong buy" endorsement. However, CSIQ is the only stock in positive territory for 2008, up about 2%. By contrast, JASO has shed 33% year-to-date, while SOLF has lost a whopping 59%.

Checking in on the broader solar sector, the Claymore/MAC Global Solar Index (TAN: sentiment, chart, options) fell this morning to a new annual low of $21.78.