UPDATE - Auriga Upgrades LDK Solar (LDK) to Hold; Stepping Away From 'Sell', But Fundamentals Still Ugly
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Price: $1.01 --0%
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 9 | New: 16
Rating Summary:
2 Buy, 2 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 9 | New: 16
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UPDATE - Auriga upgrades LDK Solar (NYSE: LDK) from Sell to Hold. PT $3.
Analyst, Hari Chandra, said, "We now rate LDK Solar stock a Hold purely as a fraction of price, but continue to be pessimistic about company's fundamentals. LDK Solar is an operational/structural basket case, and is emblematic of the supply side madness emanating from China aided and abetted by ample credit access from state banks and heavy government subsidies. Like most heavily debt laden Chinese solar PV stocks, LDK Solar stock is antithesis of price discovery, capital formation and risk mitigation and operates in its own make believe world. A return to gravity is thus a first welcome step. LDK Solar's business operations desperately need surgery for a continuation of its current crisis: operational crisis (losses well beyond 2013), working capital crisis (~130 day cash conversion cycle), balance sheet crisis (~78% debt/capital); is unsustainable. 4Q11 results set for April 30; we expect change but we're not optimistic."
To see more ratings on LDK, Click Here
Analyst, Hari Chandra, said, "We now rate LDK Solar stock a Hold purely as a fraction of price, but continue to be pessimistic about company's fundamentals. LDK Solar is an operational/structural basket case, and is emblematic of the supply side madness emanating from China aided and abetted by ample credit access from state banks and heavy government subsidies. Like most heavily debt laden Chinese solar PV stocks, LDK Solar stock is antithesis of price discovery, capital formation and risk mitigation and operates in its own make believe world. A return to gravity is thus a first welcome step. LDK Solar's business operations desperately need surgery for a continuation of its current crisis: operational crisis (losses well beyond 2013), working capital crisis (~130 day cash conversion cycle), balance sheet crisis (~78% debt/capital); is unsustainable. 4Q11 results set for April 30; we expect change but we're not optimistic."
To see more ratings on LDK, Click Here
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