Auriga Lowers Numbers on Hanwha SolarOne (HSOL); Lacking Excitement
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Price: $1.09 -0.91%
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Auriga maintains a 'Buy' on Hanwha SolarOne (NASDAQ: HSOL), PT lowered from $16 to $11.
Auriga analyst says, "We maintain our rating on shares of Hanwha SolarOne but reduce estimates after a 4Q10 report marred by a sales cancellation. While bears are likely to call this the "canary in the coal mine," we feel this is company specific due to a weaker than expected sales channel. Near-term costs are not thrilling either, as higher poly, external wafers and cells, and silver costs weigh on 1Q11 margin guidance. Although we are less enthused about the stock today than yesterday, we cannot ignore the fact it is already trading near tangible book value and cost improvement as industry prices decline can only help 2012 margins, so we continue to rate the stock a Buy." (FY12 EPS estimate cut from $1.93 to $1.37)
For more ratings news on Hanwha SolarOne click here and for the rating history of Hanwha SolarOne click here.
Shares of Hanwha SolarOne closed at $7.49 yesterday.
Auriga analyst says, "We maintain our rating on shares of Hanwha SolarOne but reduce estimates after a 4Q10 report marred by a sales cancellation. While bears are likely to call this the "canary in the coal mine," we feel this is company specific due to a weaker than expected sales channel. Near-term costs are not thrilling either, as higher poly, external wafers and cells, and silver costs weigh on 1Q11 margin guidance. Although we are less enthused about the stock today than yesterday, we cannot ignore the fact it is already trading near tangible book value and cost improvement as industry prices decline can only help 2012 margins, so we continue to rate the stock a Buy." (FY12 EPS estimate cut from $1.93 to $1.37)
For more ratings news on Hanwha SolarOne click here and for the rating history of Hanwha SolarOne click here.
Shares of Hanwha SolarOne closed at $7.49 yesterday.
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