JMP Upgrades MEMC Electronic Materials (WFR) to Market Outperform; $48 PT
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JMP Securities upgrades MEMC Electronic Materials (NYSE: WFR) from Market Perform to Market Outperform. The firm has a $48 price target on the stock.
Shares of MEMC are currently trading around $31.22, up $0.22, or 0.75%, from yesterday's close. The stock hit a new 52-week low on Thursday of last week when its price dipped to $27.27. Since then, shares of MEMC have bounced about 14% as the Senate passed a $17 billion measure extending tax credits to solar operators until 2016.
JMP's $48 price target on MEMC represents potential price appreciation of more than 50% from current levels.
MEMC Electronic Materials, Inc. designs, manufactures, and sells silicon wafers for the semiconductor industry worldwide.
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