Collins Stewart Downgrades LDK Solar (LDK) to Sell; Poorly Positioned for Low-Demand Environment

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Collins Stewart downgraded LDK Solar (NYSE: LDK) to Sell. PT lowered from $12 to $9.50.

Collins analyst says, "Given our concerns that LDK is poorly position for a downturn and out belief that spot market wafer demand will slow dramatically in the months ahead, we are downgrading our rating to Sell. In a downturn, LDK's highly levered balance sheet ($1.2B of ST debt, $2.2B of total debt) may become an issue. If its income statement should falter."

For more ratings news on LDK Solar click here and for the rating history of LDK Solar click here.

Shares of LDK Solar closed at $12.17 yesterday, with a 52 week range of $4.97-$15.10.

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