North Coast Solar Stocks

December 14, 2009

MEMC Electronic Materials: Citi Cuts Target, Estimates On Lower Poly Prices

Filed under: WFR — Tags: , , , , — Jason @ 1:19 pm

By Eric Savitz

Citigroup analyst Timothy Arcuri today trimmed his price target on MEMC Electronic Materials (WFR) to $16, from $20, and cut his EPS estimates to reflect lower spot market pricing for polysilicon. He now sees the poly and silicon wafer posting a 2009 loss of 22 cents a share, worse than his previous forecast of a loss of 5 cents. For 2010, he goes to 44 cents, from 57 cents.

Arcuri keeps his Hold rating on the stock.

WFR today is off 7 cents at $12.50.

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