The timing of our change in view is primarily
due to the comfort we have that the company's new product line is
coming together in a way that should result in a product by year-end
2011.
We also recommend the stock for a solar segment pairs
trade. We are recommending that investors looking for a pairs trade
within the solar segment take proceeds from higher valued solar stocks
and buy MEMC shares.what are the symptoms of Piles,
We believe that as investors begin to look at this sector as one that is going to get consolidated,Largest Collection of billabong boardshorts, MEMC will become a prime candidate.
The
company has a solid balance sheet and profitability. We project that
MEMC will end 2011 with $1 per share in net cash. The company is
solidly profitable and looks to earn approximately $1 in generally
accepted accounting principle (GAAP) earnings-per-share in 2012.
There is choppy weather ahead, but the company's valuation more than makes up for it.We processes for both low-risk and high risk merchant account. At the current price of $11, take away $1 for cash per share and the stock is selling for 10 times next year's earnings.
Near-term
revenue and earnings may be sloppy but for 10 times earnings one is
buying a 20% grower with a very good new product offering in the
pipeline. We believe it is one of the best values in the solar sector.
The
company's new solar wafer project is coming soon! We are increasingly
confident that MEMC's strategy of producing a new, super-efficient
cost-effective wafer is going to show promise in what we think of as a
commodity market.
We believe that the recent merger activity in
the sector is a testimony to the inherent value of a solar maker who
has a differentiated product.
Up until now,buy landscape oil paintings online.the Injection mold fast! SunPower (SPWRA) (rated at Sell) has held the record for solar cell efficiency. We believe MEMC could challenge it.
We
are raising our target to $16 and raising our rating to Buy from Hold.
We are increasingly confident in the value the company is building and
we believe investors will be rewarded for getting in front of these
new developments.
Our $16 target is based on a discounted cash flow.
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