Cantor Fitzgerald Downgrades Power-One (PWER) to Hold; Near-Term Uncertainty From Department of Commerce Decision
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Price: $6.34 +0.32%
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade PWER Now!
Cantor Fitzgerald downgraded Power-One (NASDAQ: PWER) from Buy to Hold, price target lowered from $7.50 to $5.00.
Analyst, Dale R. Pfau, said, "On May 17, the U.S. Department of Commerce imposed an immediate 31% duty on Chinese-manufactured c-Si cells, modules, and panels. With the European solar market in decline and most of world's solar panels manufactured in China, we believe this ruling will have a significant negative effect on what has been a growing U.S. market."
Pfau sees significant near-term uncertainty for PWER projects in the U.S. Pfau cuts FY12 EPS from $0.46 to $0.42 and revenues from $971 mln to $941 mln. For FY13, EPS cut fro $0.42 to $0.75.
For an analyst ratings summary and ratings history on Power-One click here. For more ratings news on Power-One click here.
Shares of Power-One closed at $3.94 yesterday, with a 52 week range of $3.56-$9.15.
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Analyst, Dale R. Pfau, said, "On May 17, the U.S. Department of Commerce imposed an immediate 31% duty on Chinese-manufactured c-Si cells, modules, and panels. With the European solar market in decline and most of world's solar panels manufactured in China, we believe this ruling will have a significant negative effect on what has been a growing U.S. market."
Pfau sees significant near-term uncertainty for PWER projects in the U.S. Pfau cuts FY12 EPS from $0.46 to $0.42 and revenues from $971 mln to $941 mln. For FY13, EPS cut fro $0.42 to $0.75.
For an analyst ratings summary and ratings history on Power-One click here. For more ratings news on Power-One click here.
Shares of Power-One closed at $3.94 yesterday, with a 52 week range of $3.56-$9.15.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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