Deutsche Bank Downgrades ReneSola Ltd. (SOL) to Hold; Margin Under Pressure
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Price: $1.94 --0%
Rating Summary:
6 Buy, 3 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
6 Buy, 3 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Deutsche Bank downgraded ReneSola Ltd. (NYSE: SOL) from Buy to Hold.
Deutsche analyst says, "We believe the operating environment is likely to continue to be challenging to ReneSola and expect margin to remain under pressure in 2H11E. Although we see some signs that wafer ASP has started to stabilize, we believe the manufacturing cost decline is unlikely to catch up with the pace of ASP decline. We expect gross margin to decline qoq in 3Q11E and remain weak in 4Q11E; we downgrade the stock."
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 $4.60 yesterday.
Deutsche analyst says, "We believe the operating environment is likely to continue to be challenging to ReneSola and expect margin to remain under pressure in 2H11E. Although we see some signs that wafer ASP has started to stabilize, we believe the manufacturing cost decline is unlikely to catch up with the pace of ASP decline. We expect gross margin to decline qoq in 3Q11E and remain weak in 4Q11E; we downgrade the stock."
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 $4.60 yesterday.
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