FBR Suggests Buying MEMC Ahead of Q2 Results - Mehdi Hosseini

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FBR Suggests Buying MEMC Ahead of Q2 Results
Jun 23, 2008 04:16 PM UTC

Mehdi Hosseini

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Symbol	Sentiment	Start	Return	Closed
WFR		06/23/08	-80.72%	--

Via Long Investment Ideas from Seeking Alpha:

Consider buying MEMC Electronic Materials (WFR) shares ahead of the company’s Q2 results, advises Friedman Billings Ramsey analyst Mehdi Hosseini.

Hosseini write in a research note Monday morning that “field checks” find polysilicon prices “have remained strong.” He says recent manufacturing issues have been fixed and that the company is on track to meet or exceed Q2 estimates. He sees Q2 revenue of $554 million with pro forma EPS of 99 cents. Hosseini also thinks the company could provide Q3 guidance ahead of the current Street consensus of $619 million and $1.13.

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