Needham & Company Reiterates a 'Buy' on LDK Solar (LDK); Outlook Probably Better than Feared
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Price: $1.01 --0%
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on LDK Solar (NYSE: LDK), PT $15.
Needham analyst says, "LDK reported better than expected 1Q11 results. While the company suspended full year guidance due to volatile market conditions, its 2Q11 outlook is probably better than feared. Management commentary suggests its module business is gaining traction, and we continue to believe LDK will have a competitive cost structure due to the successful execution of its vertical integration strategy, which includes polysilicon. Additionally, given the cash generated form the sale of its poly business, we are more confident that LDK will have enough cash to support working capital."
"We raise our 2011 EPS estimate to $2.11 but keep our 2012 at $1.35. Our revenue estimates remain unchanged."
For more ratings news on LDK Solar click here and for the rating history of LDK Solar click here.
Shares of LDK Solar closed at $7.10 yesterday.
Needham analyst says, "LDK reported better than expected 1Q11 results. While the company suspended full year guidance due to volatile market conditions, its 2Q11 outlook is probably better than feared. Management commentary suggests its module business is gaining traction, and we continue to believe LDK will have a competitive cost structure due to the successful execution of its vertical integration strategy, which includes polysilicon. Additionally, given the cash generated form the sale of its poly business, we are more confident that LDK will have enough cash to support working capital."
"We raise our 2011 EPS estimate to $2.11 but keep our 2012 at $1.35. Our revenue estimates remain unchanged."
For more ratings news on LDK Solar click here and for the rating history of LDK Solar click here.
Shares of LDK Solar closed at $7.10 yesterday.
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