Soleil Upgrades Suntech Power Holdings (STP) to Hold After Strong Q3 Results; Raises PT & Estimates
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Soleil upgrades Suntech Power Holdings (NYSE: STP) from Sell to Hold, price target increased to $13.50
Soleil analyst says, "Q3 results - 16 cents on revenues of $473mm - were above consensus expectations (8 cents on revenues of $430mm). Strength was driven by strong growth in shipments - up 67% q/q. However, EPS was boosted by foreign exchange gain (6 cent benefit) and zero tax rate (3 cent benefit). We are raising our 2010 estimate from 13 cents per share to 45 cents per share due to higher shipment estimate (1050 MW vs. prior estimate of 900 MW)."
To see all the upgrades/downgrades on shares of STP, visit our Analyst Ratings page.
Suntech Power Holdings Co., Ltd., a solar energy company, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products worldwide.
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