Suntech Power: Downgraded to Hold - Joseph Lazzaro

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Suntech Power: Downgraded to Hold
Oct 27, 2009 08:00 PM UTC

Joseph Lazzaro

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Via BloggingStocks:

Filed under: Suntech Power Hldgs ADS (STP)

Suntech Power Holdings' (NYSE: STP) stock has 'totally misbehaved,' from a technical standpoint, since first recommended on July 28, 2009 at a price of $19.24. Hence, I'm putting a Hold on the shares.

Back in July, the calculation was that Suntech would benefit from China's solar subsidy program, as well as from U.S. government initiatives to invest in renewable energy. Further, reduced selling prices moving forward were expected to increase demand for Suntech's products. The First Call FY2009/FY2010 EPS estimates for STP are 21 cents to 57 cents.

Continue reading Suntech Power: Downgraded to Hold

Suntech Power: Downgraded to Hold originally appeared on BloggingStocks on Tue, 27 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

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