Auriga Maintains a 'Buy' on MEMC Electronic Materials (WFR); Moving Beyond the 4Q11 Kitchen Sink

Auriga maintains a 'Buy' on MEMC Electronic Materials (NYSE: WFR) price target raised from $6 to $7.

Auriga analyst says, "Raising PT on Earnings Traction from cost focus/Restructuring. MEMC's 4Q11 results were pre-announced; focus is on 2012 and beyond. $1.4B restructuring charges are costly but decisiveness is priceless. MEMC's cost focused, asset-lite, flexible business model is now in place. We expect merciless execution on 2012 plan as it is time to walk the talk. Reference Markers along 2012 Roadmap; 2012/2013 EPS estimates move up."

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 $4.65 yesterday.

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