Auriga Lowers Numbers on ReneSola Ltd. (SOL); reSOLute Predictions
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Price: $1.94 --0%
Rating Summary:
6 Buy, 3 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 3 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Buy' on ReneSola Ltd. (NYSE: SOL), but slashes PT from $23 to $15.
Auriga analyst says, "In an effort to capture management's pessimism while retaining what we feel is a better view of reality, we lower our Q2 estimates in-line with management guidance and lower our 4Q11 module price to $1.12/w from $1.46/w, leading to $0.96/w in 4Q12. We reduce our 2011 shipment expectations to the low end of guidance but maintain our original 2012 shipment estimates."
"We are lowering our price target as we expect investors to avoid the stock after management's reckless commentary and apparent lack of confidence in its own cash flow prospects. We believe the company will execute much better than implied by management commentary as 4Q11 pricing ultimately does not reach the levels suggested while its industry leading cost structures support margins better than peers."
For more ratings news on ReneSola Ltd. click here and for the rating history of ReneSola Ltd. click here.
Shares of ReneSola Ltd. closed at $8.66 yesterday.
Auriga analyst says, "In an effort to capture management's pessimism while retaining what we feel is a better view of reality, we lower our Q2 estimates in-line with management guidance and lower our 4Q11 module price to $1.12/w from $1.46/w, leading to $0.96/w in 4Q12. We reduce our 2011 shipment expectations to the low end of guidance but maintain our original 2012 shipment estimates."
"We are lowering our price target as we expect investors to avoid the stock after management's reckless commentary and apparent lack of confidence in its own cash flow prospects. We believe the company will execute much better than implied by management commentary as 4Q11 pricing ultimately does not reach the levels suggested while its industry leading cost structures support margins better than peers."
For more ratings news on ReneSola Ltd. click here and for the rating history of ReneSola Ltd. click here.
Shares of ReneSola Ltd. closed at $8.66 yesterday.
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