Needham & Company Maintains a 'Hold' on Hanwha SolarOne (HSOL); Weaker 3Q11 Report as Expected, but Cost Initiatives Unlikely to Offer Any Relief in the Near-term

Needham & Company maintains a 'Hold' on Hanwha SolarOne (NASDAQ: HSOL)

Needham analyst says, "HSOL reported a 3Q11 loss and reduced guidance for 2011 shipments. However, we believe the weaker report was largely expected going into the call and previously downgraded based on weak industry dynamics. The steep decline in module prices coupled with weak demand lead us to believe there will be more losses in coming quarters. Additionally, we remain convinced that Hanwha Chemical (N/R) will not acquire the remaining shares due to market conditions."

For an analyst ratings summary and ratings history on Hanwha SolarOne click here. For more ratings news on Hanwha SolarOne click here.

Shares of Hanwha SolarOne closed at $1.39 yesterday.

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