Kaufman Bros. Downgrades LDK Solar (LDK) to Sell; Weak Expectations, Debt Concerns

Kaufman Bros. downgraded LDK Solar (NYSE: LDK) from Hold to Sell, price target lowered from $5 to $2.

Kaufman analyst says, "LDK is expected to report 3Q11 earnings on November 22, 2011. We are lowering our 3Q11 total revenue/loss per share estimates to $460MM/($0.42) from $618MM/($0.11) to reflect lower volumes and pricing declines in LDK's business segments. Yesterday, the company lowered top-line guidance to $460MM-$470MM from $630MM-$680MM. Specifically, we believe the most significant pricing declines will be felt in the polysilicon and solar wafer segments. We have modeled polysilicon and solar wafer ASP's dropping sequentially by 14% and 20%, respectively."

For an analyst ratings summary and ratings history on LDK Solar click here. For more ratings news on LDK Solar click here.

Shares of LDK Solar closed at $3.53 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• Movano (MOVE) Misses Q2 EPS by 195c