Business

MARKET MOVERS

Citi sees brighter days for solar industry

David Paul Morris/Bloomberg News/File 2011

A SunPower employee checked solar panels at a plant in Milpitas, Calif. Demand for solar panels from China, India, the United States, and Japan will offset declines in Europe, Citigroup says.

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California-based SunPower Corp. and other solar stocks rallied after Citigroup raised its recommendation on the industry, citing “signs of a near-term bottom.’’ Yingli Green Energy Holding Co. climbed 5.2 percent, and Trina Solar Ltd. jumped 3 percent. Yingli Green, a Chinese solar-module maker, and Trina, China’s third-biggest solar panel maker, will benefit from declining materials costs, Citi said.

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