Jefferies Maintains a 'Hold' on MEMC Electronic Materials (WFR); Positive on Project Wins, But Liquidity An Issue
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Price: $6.72 -1.18%
Rating Summary:
8 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade WFR Now!
Jefferies maintains a 'Hold' on MEMC Electronic Materials (NYSE: WFR) price target of $4.00.
Analyst, Jesse Pichel, said, "MEMCs sale of the Bulgarian and Italian projects drove the stock up ~20%. We view this as a positive as the company executed as they had guided and the sales will help the company’s liquidity situation. We estimate the company will generate roughly $60-70M in cash from the sales...However, it appears increasingly likely that the company will need to slow SunEdison construction below guidance in early 3Q12 to remain within increasing liquidity requirements."
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $2.64 yesterday, with a 52 week range of $1.44-$8.60.
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Analyst, Jesse Pichel, said, "MEMCs sale of the Bulgarian and Italian projects drove the stock up ~20%. We view this as a positive as the company executed as they had guided and the sales will help the company’s liquidity situation. We estimate the company will generate roughly $60-70M in cash from the sales...However, it appears increasingly likely that the company will need to slow SunEdison construction below guidance in early 3Q12 to remain within increasing liquidity requirements."
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $2.64 yesterday, with a 52 week range of $1.44-$8.60.
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