Deutsche Bank Reiterates a 'Buy' on MEMC Electronic Materials (WFR); Closed Sale of Four Solar Projects

Deutsche Bank reiterates a 'Buy' on MEMC Electronic Materials (NYSE: WFR) price target of $9.00.

Deutsche analyst said, "This is a significant positive milestone in improving investor confidence, in our view. Although we were expecting the company to close these projects, investor skepticism on the timing of sale of these assets was very high. We expect overall management credibility and balance sheet story to start improving, which in turn could drive interest from longer term investors and result in valuation multiple expansion."

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 $2.17 yesterday.

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