Piper Jaffray: "Sell LDK Solar"
According to StreetInsider.com, Piper Jaffray is out with a Sell rating on LDK after the company reported poor earnings yesterday and slashed the price target from $9 to $3. Here are Piper’s notes on LDK:
- steadily deteriorating balance sheet
- plan to construct a polysilicon plan too much of a risk and possible liquidity drain
- hundreds of millions of customer prepayments that had been promised to fund the new plant are now in default
- drop in polysilicon prices will likely result in additional inventory write offs
LDK is off another 5% this morning and now trades below $4/share.
More on this topic
(What's this?)
Stock Watch – 4/8/09
(The Wild Investor, 4/8/09)
Bookkeeping: Cutting LDK Solar (LDK)
(Fund my Mutual Fund, 1/6/09)
Bookkeeping: Closing LDK Solar (LDK) - Covering Mobile Telesystems (MBT)
(Fund my Mutual Fund, 2/13/09)
LDK and Sunpower would have been in Chapter 11 without China and Total Support
(Green World Investor, 1/5/12)
No comments yet.
Leave a comment