Soleil Securities Upgrades MEMC Electronic Materials (WFR) to Buy; Compelling Value
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Soleil Securities upgrades MEMC Electronic Materials (NYSE: WFR) from Hold to Buy. Price target $15.
Soleil analyst says, "This move is entirely based on valuation - we are making no changes to our earnings estimates or price target. We believe the stock is a compelling value below $13/share. Tangible book value is approaching $10.00 per share, with over half of that tangible book cash on the balance sheet. The issues we have raised in recent reports relative to the company's semi-wafer business are, we believe, fully discounted in the company's current share price (and were not when the stock was almost 50% higher five weeks ago)."
To see more analyst ratings on WFR Click Here.
MEMC Electronic Materials, Inc. designs, manufactures, and sells silicon wafers for the semiconductor industry worldwide.
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