Goldman Sachs Upgrades MEMC Electronic Materials (WFR) to Buy; Near-Free Call Option on Solar

Article Stock Quotes (1) Comments (0)

Goldman Sachs upgraded MEMC Electronic Materials (NYSE: WFR) from Neutral to Buy with a price target of $6.50 (from $4.00), calling it a call option in solar and unique sum-of-the-parts story.

"At its current valuation, we favor WFR's unique sum-of-the-parts story which, in our view, implies a near-free call option on solar given a steady-growth, cash-flow positive semiconductor segment that we estimate to be worth $5 per share on its own", the analyst said.

Catalysts cited by the firm include: Analyst Day on March 13; An improving semi cycle; Compelling SOTP; Upside to consensus EPS.

Goldman raised FY14 EPS from $0.47 to $0.50 and FY15 from $0.50 to $0.55.

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 $5.24 yesterday, with a 52 week range of $1.44-$5.70.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UBS Raises PT on MEMC (WFR); Thinks Semi Sales Troughed in Q1
• NetApp (NTAP) Post Solid Q4, Numbers Bumped - Needham & Company
• The ExOne Company (XONE) Metal Opportunity to Keep Stock Going - FBR

Create E-mail Alert Related Categories

Analyst EPS Change, Analyst PT Change, Hot Upgrades, Upgrades

Related Entities

Goldman Sachs

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?