Soleil Slaps Buy Ratings On Suntech Power (STP) & LDK Solar (LDK)

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11:57:13 am on October 2, 2008

Soleil Securities has initiated coverage on both Suntech Power (STP) and LDK Solar (LDK) with Buy ratings on both.  According to, Soleil had this to say on Suntech: 

“The prospect of strong earnings growth through ’09 is offset by our expectation of a sharp decline in photovoltaic industry pricing in 2011 which will lead to an equally sharp decline in earnings in 2012.”  Their price target is 41.

On LDK Solar:

“While we think the company’s strategy of backward integration into polysilicon production will be successful and it will be generating substantial earnings growth over the next 2-3 years, we believe investors need to recognize that short-term delays in ramping the polysilicon plants will not impact the company’s long-term earnings capability (2010 and beyond).”  They have a price target of 42.

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