MARKET TALK: Solar-Wafer Makers Could See Gains Later 2010
April 12 2010 - 2:36PM
Dow Jones News
[Dow Jones] Manufacturers of solar wafers, a key component of
crystalline-silicon solar panels, are currently seeing historically
low average returns, but margins are likely to improve later this
year if solar-panel and solar-cell manufacturing capacity expands
faster than wafer manufacturing capacity, says BarCap analyst
Vishal Shah. "Given the potential tightness in the wafer market, we
expect excess returns to increase during 2010, whereas excess
returns in the module/cell segment could potentially decline," he
says. Shah upgrades wafer maker LDK Solar Co. Ltd. (LDK) from
underweight to equalweight, boosts stock-price target to $7 from
$4; LDK shares recently up 4.2% at $7.63, up 16.6% over week. Shah
raises Renesola Ltd. (SOL) price target to $9 from $7; shares
recently up 0.6% at $6.46. Shah also raises MEMC Electronic
Materials Inc. (WFR) price target to $16 from $15; shares recently
up 2.8% at $16.40. (cassandra.sweet@dowjones.com)
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