Collins Stewart Starts China Sunergy (CSUN) at Buy; Module Vendor Positioned to Benefit from Low Wafer Prices

Collins Stewart initiates coverage on China Sunergy (NASDAQ: CSUN) with a Buy. PT $3.15.

Collins analyst says, "We believe the demand environment in 2H11 will be far more favorable to CSUN, as there will be adequate demand in the market for it to operate at a reasonable utilization, but not too much demand that would drive up raw material prices. In the quarters ahead, we believe a vendor such as CSUN will have access to low priced solar wafers, and will therefore be more competitive with top tier vendors from a cost standpoint than they have been at any point in the past year."

For more ratings news on China Sunergy click here and for the rating history of China Sunergy click here.

Shares of China Sunergy closed at $1.81 yesterday.

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