Shares of MEMC Electronic Materials (WFR) Trade Down Today 5.62% on Stifel Nicolaus Downgrade
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Price: $8.07 --0%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Stifel Nicolaus cut its rating on MEMC Electronic Materials (NYSE: WFR) from Buy to Hold as it feels the solar wafer market is rapidly deteriorating.
While management at the company is doing its part by cutting costs, investors do not seem to be signing the same tune. The firm doesn't believe investors will become positive on the stock within the next six months and cites "acute" reductions in solar pricing and significant estimate cuts.
Shares of WFR are currently trading down 5.62 percent or $0.51 to $8.57 following the downgrade.
While management at the company is doing its part by cutting costs, investors do not seem to be signing the same tune. The firm doesn't believe investors will become positive on the stock within the next six months and cites "acute" reductions in solar pricing and significant estimate cuts.
Shares of WFR are currently trading down 5.62 percent or $0.51 to $8.57 following the downgrade.
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