Auriga on Solar Photovoltaics: Revising All Price Targets

Auriga on Solar Photovoltaics: Revising all price targets; No changes to estimates or ratings

Auriga analyst said, "We are REVISING PRICE TARGETS for all solar PV stocks under coverage due to macro political/economic issues. We are NOT CHANGING stock ratings as our company specific investment rationale has not changed. Our revenue and EPS estimates STAY INTACT and are largely below Street consensus despite aggressive downward revisions from others recently."

"The main driver of our price target resets is a structural shift in risk aversion, relative safety of high grade corporate/sovereign bonds vs. equities amid political risk that has been exacerbated in the solar PV landscape."

First Solar (Nasdaq: FSLR)(BUY) lowers PT from $154 to $120.
SunPower (Nasdaq: SPWRA)(BUY) lowers PT from $15 to $12.50.
MEMC Elec. Materials (NYSE: WFR)(BUY) lowers PT from $11 to $9.00.
Trina Solar (NYSE: TSL)(BUY) lowers PT from $15 to $12.
Yingli Green (NYSE: YGE)(SELL) lowers PT from $3 to $2.
Suntech Power (NYSE: STP)(SELL) PT maintained at $1.

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