Auriga Downgrades Solarfun (SOLF) From Buy To Hold $SOLF
Auriga is out downgrading shares of Solarfun (SOLF) this morning from Buy to Hold, but maintains the $13 price target because the firm feelsthe company may miss margin estimates on the Q3 call due to higher input prices. While they remain considerably bullish on the company, theyrecommend stepping aside until consensus expectations are re-evaluated.
Their 2011 assumptions are unchanged and clarity on rampingadditional capacity for next year may boost estimates and possiblyrethink the Hold rating. The bottom line on this call is that the stock has had a tremendous run and it’s wise to take some chips off the table heading into earnings. I couldn’t agree more.
Shares of SOLF are down about 1.5% in early trading.
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