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Credit Suisse Lowers Price Targets For Several Major Solar Stocks (JASO, SOL, STP)
24/7WallStreet.com notes that Credit Suisse has lowered price targets on several major solar stocks. Apparently, with the economic downturn, shares just aren’t selling for as much as the used to, and the price targets were adjusted to reflect the new economic reality. According to the article, they may be starting a trend, as we can expect other brokerage firms to start taking similar actions. Here’s a quick rundown of the affected companies:
JA Solar Holdings (NASDAQ: JASO) target cut to $10.00 from $17.00, shares down 3.5% at $4.65 pre-market,
ReneSola Ltd. (NYSE: SOL) target cut to $13.30 From $29.00, shares down 3% at $5.77 pre-market.
Suntech Power Holdings (NYSE: STP) target cut to $20.00 from $50.00, shares down 2% at $14.95 pre-market.
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