Brean Murray Carret & Co. Downgrades ReneSola Ltd. (SOL) to Hold

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June 28, 2011 6:55 AM EDT
Get Alerts SOL Hot Sheet
Price: $1.94 --0%

Rating Summary:
    6 Buy, 3 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 23 | New: 22
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Brean Murray Carret & Co. downgraded ReneSola Ltd. (NYSE: SOL) from Buy to Hold.

The firm cited, "... midyear expectations for 2H margin erosion, driven by material wafer weakness, and limited prospects for second-half rebound on lower raw material supply chain cost benefits. We also discount the possibility of the company achieving optimal poly cost structure, given its limited scale that is ramping from 3,500MT currently to 8,500MT by 2012."

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 $4.88 yesterday.

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Brean Murray Carret & Co.