Wells Fargo Downgrades LDK Solar (LDK) to Underperform; Tough Macro And Balance Sheet
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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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Wells Fargo downgraded LDK Solar (NYSE: LDK) from Market Perform to Underperform, price target range lowered to $3.10-$3.60 from $4.00-5.00.
Wells analyst says, "Component pricing is weak, LDK's balance sheet is strained, the poly plant spin-out is more challenging in today's macro, and valuation is more expensive vs. peers. We expect shares to remain under pressure...lowering 2011E/2012E EPS to -$0.19/$0.45 (from $0.48/$0.63)."
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 $6.18 yesterday.
Wells analyst says, "Component pricing is weak, LDK's balance sheet is strained, the poly plant spin-out is more challenging in today's macro, and valuation is more expensive vs. peers. We expect shares to remain under pressure...lowering 2011E/2012E EPS to -$0.19/$0.45 (from $0.48/$0.63)."
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 $6.18 yesterday.
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