Suntech Power Given Neutral Rating at Zacks (STP)
Zacks’ analyst wrote, “Suntech Power Holdings Company Ltd. is one of the largest producers of crystalline solar cells and modules, serving geographically-diversified customers. The company is prudently expanding its revenue base to divergent markets around the globe, while increasing megawatts shipped. Positive factors include ongoing expansion programs, higher conversion efficiency through its Pluto technology-enabled modules, China’s subsidy program and improving operating efficiencies. However, the positives are overshadowed by fears of tepid module demand in Europe, rising competition, the volatile euro and the financial stability of its customers. Therefore, in the absence of positive triggers, we expect shares to remain range bound and advise investors to stay on the sidelines at this point with a target price of $0.75.”
A number of other analysts have also recently weighed in on STP. Analysts at Raymond James downgraded shares of Suntech Power from a market perform rating to an underperform rating in a research note to investors on Wednesday, March 6th. Analysts at Citigroup initiated coverage on shares of Suntech Power in a research note to investors on Wednesday, February 6th. They set a sell rating and a $1.50 price target on the stock.
Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Suntech Power currently has a consensus rating of Sell and an average target price of $0.95.
Suntech Power (NYSE: STP) opened at 0.586 on Monday. Suntech Power has a 1-year low of $0.41 and a 1-year high of $3.47. The stock’s 50-day moving average is currently $1.32. The company’s market cap is $106.0 million.
Suntech Power Holdings Co, Ltd. (NYSE: STP) is a solar energy company. Suntech is principally engaged in the design, development, manufacturing and marketing of photovoltaic (PV) products and also provides engineering, procurement and construction services to building solar power systems using its own solar modules for residential, commercial, and utility-scale power plant customers.
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