Collins Stewart Upgrades MEMC Electronic Materials (WFR) to Buy; SunEdison and Valuation
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Price: $8.07 --0%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Collins Stewart upgraded MEMC Electronic Materials (NYSE: WFR) to Buy with a price target of $5.00.
Collins analyst says, "With the decline seen in WFR's trading price over the past 6 weeks and its recently announced restructuring activities (which will ultimately aid cashflow and profitability), we believe WFR's market value has slipped below the inherent combined value of its SunEdison division, its semi wafer operation and the net cash on its balance sheet. We contend that this is the case even if no value is assigned to the solar wafer business or Italian polysilicon operations."
CS reduces forecast: CY12 EPS lowered to $0.47 from $0.54.
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $4.20 yesterday.
Collins analyst says, "With the decline seen in WFR's trading price over the past 6 weeks and its recently announced restructuring activities (which will ultimately aid cashflow and profitability), we believe WFR's market value has slipped below the inherent combined value of its SunEdison division, its semi wafer operation and the net cash on its balance sheet. We contend that this is the case even if no value is assigned to the solar wafer business or Italian polysilicon operations."
CS reduces forecast: CY12 EPS lowered to $0.47 from $0.54.
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $4.20 yesterday.
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