Needham & Company Maintains a 'Hold' on LDK Solar (LDK); Another Preannouncement, and More Losses to Come
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Price: $1.01 --0%
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Hold' on LDK Solar (NYSE: LDK).
Needham analyst says, "LDK preannounced weak 3Q11 results, which was largely expected given the magnitude of price declines and weak demand along the solar value chain. In the near-term, we see little possibility for a recovery. Despite support by local Chinese governments, we believe LDK’s highly leveraged balance sheet and negative margins will remain major overhangs on the stock. Therefore, we recommend investors stay on the sidelines until market conditions improve."
"We cut 2011 EPS estimate to ($1.32) (from (0.19)) and 2012 to ($1.80) (from (0.46))on lower shipments and revenue projections.
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.
Needham analyst says, "LDK preannounced weak 3Q11 results, which was largely expected given the magnitude of price declines and weak demand along the solar value chain. In the near-term, we see little possibility for a recovery. Despite support by local Chinese governments, we believe LDK’s highly leveraged balance sheet and negative margins will remain major overhangs on the stock. Therefore, we recommend investors stay on the sidelines until market conditions improve."
"We cut 2011 EPS estimate to ($1.32) (from (0.19)) and 2012 to ($1.80) (from (0.46))on lower shipments and revenue projections.
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.
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