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 … Read the rest
It was a crazy week last week for me so I need to catch up a bit in the world of green stocks! On Thursday of last week, Suntech Power (STP) was hit with a sell rating and price target of $16 by Hapoalim Securities (who?) saying they are impressed by the cost structure of the company but believes their 35 – 45%% exposure to Spain and nearly 85% exposure to Europe will hurt them … Read the rest
Goldman Sachs analyst Michael Molnar has had a change of heart on his rosy outlook for both Sunpower (SPWR) and First Solar (FSLR), slapping both with Sell ratings this morning, down from previous Buy ratings due to oversupply issues and a lack of European subsidies.
“The risk of oversupply in the solar market will soon become a reality as considerably less generous demand subsidies take hold just as a wave of supply and tight … Read the rest