UBS Maintains a 'Buy' on MEMC Electronic Materials (WFR) Cutting Estimates as Semi and Solar Still Far Apart
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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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UBS maintains a 'Buy' on MEMC Electronic Materials (NYSE: WFR) price target lowered from $6 to $4.50.
Analyst, Stephen Chin, said, "MEMC's 1Q12 semi sales of $216M exceeded its guidance of $198M on higher demand for 200mm wafers. We believe MEMC’s 2Q12 semi sales guidance of up 5-10% q/q is achievable given higher foundry demand...Our new 2012 & 2013 EPS estimates are $0.24 and $0.65 versus $0.45 and $0.75 previously. We believe MEMC’s liquidity of $637M in 1Q12 (down from 4Q11 of ~$813M) is still a near-term risk but satisfies its 2Q12 covenant of $350M and can likely be sustained as long as its semi division executes in 2H12 and generates cash."
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 $3.25 yesterday.
Analyst, Stephen Chin, said, "MEMC's 1Q12 semi sales of $216M exceeded its guidance of $198M on higher demand for 200mm wafers. We believe MEMC’s 2Q12 semi sales guidance of up 5-10% q/q is achievable given higher foundry demand...Our new 2012 & 2013 EPS estimates are $0.24 and $0.65 versus $0.45 and $0.75 previously. We believe MEMC’s liquidity of $637M in 1Q12 (down from 4Q11 of ~$813M) is still a near-term risk but satisfies its 2Q12 covenant of $350M and can likely be sustained as long as its semi division executes in 2H12 and generates cash."
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 $3.25 yesterday.
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