Nomura Securities Reiterates a 'Buy' on Suntech Power (STP); Trading at a Discount
Tweet
Share
E-mailGet Alerts STP Hot Sheet
Price: $0.53 --0%
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities reiterates a 'Buy' on Suntech Power (NYSE: STP).
Nomura analyst, Nitin Kumar, said, "At our conference in Hangzhou China, Suntech reiterated meaningful improvements in wafer costs as it raises its internal wafer capacity to 50% of module capacity by mid-FY11F. Suntech expects all in module costs to decline to US$0.85/W by end-FY13F although we believe the company can meet this target in the next 12~18 months if execution remains on target. Suntech has been a key leader in diversifying sales from Europe in FY11F, in our view. We believe the negatives are priced in the stock and with the company trading at a 30% discount to peers the risk reward remains favorable."
For more ratings news on Suntech Power click here and for the rating history of Suntech Power click here.
Shares of Suntech Power closed at $9.34 yesterday.
Nomura analyst, Nitin Kumar, said, "At our conference in Hangzhou China, Suntech reiterated meaningful improvements in wafer costs as it raises its internal wafer capacity to 50% of module capacity by mid-FY11F. Suntech expects all in module costs to decline to US$0.85/W by end-FY13F although we believe the company can meet this target in the next 12~18 months if execution remains on target. Suntech has been a key leader in diversifying sales from Europe in FY11F, in our view. We believe the negatives are priced in the stock and with the company trading at a 30% discount to peers the risk reward remains favorable."
For more ratings news on Suntech Power click here and for the rating history of Suntech Power click here.
Shares of Suntech Power closed at $9.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
- Wolverine World Wide (WWW) PT Raised to $31 at UBS on Growth, EPS Upside Potential
- New Street Research Upgrades Micron Technology (MU) to Buy
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
