Loading, Please wait ...
Suntech Power Holdings Co., Limited.
STP.NISIN: US86800C1045SEDOL: B0P01N4 |
Rating: SELL |
Target Price: 12.38 USD |
Investment Horizon: 6 to 24 months |
1Q 09 News Alert
While Suntech Power Holdings Co. Ltd.'s (Suntech) total net revenues underperformed our expectations, the operating and earnings performance was better than our and market expectations. Going forward, Management has toned down its shipment guidance for FY 2009. Given the new guidance, we are likely to revise our top-line estimates downwards in our next report. We maintain our SELL rating for the ADR until we can reassess the ADR in our next update report, in the coming weeks....
4Q 08 & FY 2008 Update Report
As the price of crude oil has dropped and remained at relatively low levels, solar energy has become less cost competitive and has lost its attractiveness as an alternative source of energy. In addition, the tight credit markets have made it difficult for solar panel companies to operate which in turn has slowed demand for PV modules, an input for solar panel production. As a result of reduced demand and huge capacity build up over the last few years…
Company News Alert
Suntech Power Holdings Co. Ltd’s. (Suntech) ADR appreciated significantly on 26 March 2009, primarily reflecting positive investor sentiments over news of the Chinese government announcing a subsidy of RMB20 per watt for solar projects of over 50 KW capacity, aimed at increasing the acceptance of solar power over conventional sources of energy. Buoyancy in global equity markets and increasing oil prices further supported the stock price appreciation....
Company News Alert
Suntech Power Holdings Co. Ltd’s. (Suntech) ADR achieved our target price on 20 February 2009, which we believe reflects cautious investor sentiment for the solar industry given sustained lows in crude oil prices, sharply declining solar products prices and declining solar demand in wake of current uncertainty in the economic environment. However, as we expect to revise our estimates and target price upwards in our next update…
4Q 08 and FY 2008 News Alert
CLICK VIEW REPORT TO READ FREE REPORT
Suntech Power Holdings Co. Ltd. (Suntech) reported higher than expected total net revenues and earnings in 4Q 08 and FY 2008. Although the company’s net revenue guidance is in line with our expectation, as gross margin guidance exceeds our expectation, we expect to revise our estimates upwards in our next update report. However, we do not expect a change in our rating despite an adjustment in our…
Subscribe to Alerts
Sign up for a free account to receive email alerts for this stockMore Information
Request a redistribution license
Access to short term actionable trading strategies
(available only with Global Research subscription)
Access to financial models
(available only with Global Research subscription)