Suntech Power (STP) Could Decline 50% in Next 50 Days - Raymond James
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Price: $0.66 +1.54%
Rating Summary:
1 Buy, 11 Hold, 16 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 11 Hold, 16 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade STP Now!
Raymond James analyst Pavel Molchanov sees a 50% chance of a 50% sell-off in Suntech Power (NYSE: STP) on the next 50 days.
Molchanov said if the company was a non-Chinese PV manufacturer it would already be bankrupt. Suntech has convertible debt of over $500 million coming due within less than six weeks - March 15.
The analyst outline the possible outcomes that he sees. Outcome #1 (50% probability): Heavily dilutive equity issuance; Outcome #2 (35% probability): Bankruptcy; Outcome #3 (15% probability): Non-dilutive outcome.
For an analyst ratings summary and ratings history on Suntech Power click here. For more ratings news on Suntech Power click here.
Shares of Suntech Power closed at $1.58 yesterday, with a 52 week range of $0.71-$4.40.
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Molchanov said if the company was a non-Chinese PV manufacturer it would already be bankrupt. Suntech has convertible debt of over $500 million coming due within less than six weeks - March 15.
The analyst outline the possible outcomes that he sees. Outcome #1 (50% probability): Heavily dilutive equity issuance; Outcome #2 (35% probability): Bankruptcy; Outcome #3 (15% probability): Non-dilutive outcome.
For an analyst ratings summary and ratings history on Suntech Power click here. For more ratings news on Suntech Power click here.
Shares of Suntech Power closed at $1.58 yesterday, with a 52 week range of $0.71-$4.40.
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