According to StreetInsider.com, Collins Stewart has initiated coverage on MEMC Electronics (WFR) with a BUY rating and price target of $27. The firm believes the departure of CEO Nabeel Gareeb is bullish in that it may open up more long term relationships. They said:
“… the company’s $6.18 in net cash and potential to deliver $2.58 GAAP EPS in FY10 under a stress test forecast should provide support at current levels…CEO Nabeel Gareeb resigned … Read the rest
Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest
Green Alternative Energy Stocks – Solar, Wind, LED Lighting,Smart Grid, Electric/Hybrid Cars, Wave Energy, Green Building, Biofuels & Geothermal