Wells Fargo Downgrades LDK Solar (LDK) to Underperform; Tough Macro And Balance Sheet

Article Stock Quotes (1) Comments (0)

Wells Fargo downgraded LDK Solar (NYSE: LDK) from Market Perform to Underperform, price target range lowered to $3.10-$3.60 from $4.00-5.00.

Wells analyst says, "Component pricing is weak, LDK's balance sheet is strained, the poly plant spin-out is more challenging in today's macro, and valuation is more expensive vs. peers. We expect shares to remain under pressure...lowering 2011E/2012E EPS to -$0.19/$0.45 (from $0.48/$0.63)."

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 $6.18 yesterday, with a 52 week range of $4.65-$15.10.

---

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

• UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
• Wells Fargo Downgrades Ruby Tuesday (RT) to Market Perform
• SPI Solar Announces First-Quarter 2013 Financial Results

Create E-mail Alert Related Categories

Downgrades

Related Entities

Wells Fargo

Add Your Comment

Name

Subject

Body

Share on Facebook

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