Shares of Evergreen Solar Inc. rose Tuesday after an analyst upgraded the company to "Buy" following a recent decline in stock price.

The solar-power product maker's stock gained 75 cents, or 6.4 percent, to $12.55. Its stock has fallen almost 30 percent so far this year as investors fled the solar-power sector for traditionally safer investments amid recession fears.

Janco Partners analyst Vijay Singh upgraded Evergreen from "Market Perform" in a note Tuesday, saying its fundamentals are largely the same, but its current share price provides an attractive entry point.

He noted that Evergreen is constructing its first commercial production facility in Devens, Mass., has outlined its expansion plans and has entered fixed-price contracts for polysilicon to increase its capacity at a reasonable cost.

The one setback Evergreen may face would be further construction delays at its plant, according to Singh. The Marlboro, Mass.-based company faced some construction glitches due to bad weather, but the project "appears to be on track" for completion in June, Singh said.