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Brean Murray Carret & Co. Downgrades JA Solar Holdings Co., Ltd. (JASO) to Sell

June 28, 2011 6:53 AM EDT
Get Alerts JASO Hot Sheet
Price: $7.49 --0%

Rating Summary:
    5 Buy, 5 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Brean Murray Carret & Co. downgraded JA Solar Holdings Co., Ltd. (NASDAQ: JASO) from Hold to Sell.

The firm states, "We are downgrading our rating on JA Solar on higher-than-expected margin erosion in Q2/11, based on material pricing pressure in conjunction with higher raw material costs associated with inventory write-downs from Q1 and limited benefit from lower costs across the value chain, particularly around polysilicon as it remains committed to long-term contracts to its major supplier. This suggests less of a prospect for the company to experience similar 2H/11 rebound in margins associated with the recent and dramatic decline in silicon prices that are helping to drive some margin expansion for its peers in the Q3/Q4 time frame."

For more ratings news on JA Solar Holdings Co., Ltd. click here and for the rating history of JA Solar Holdings Co., Ltd. click here.

Shares of JA Solar Holdings Co., Ltd. closed at $5.73 yesterday.


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