Suntech (STP) and American Superconductor (AMSC) Get Upgrades
The good news keeps rolling in for American Superconductor (AMSC)with a couple new orders and upgrades in the last week or so, but thestock doesn’t seem to want to move much on the news. Perhaps today itcan get going on an upgrade from Needham from Hold to Buy. The firmhas a $40 price target on it.
Also getting an upgrade this morning is Suntech Power (STP) which was upgraded from Sell to Hold by Soleil.
“Q3 results – 16 cents on revenues of $473mm – were aboveconsensus expectations (8 cents on revenues of $430mm). Strength wasdriven by strong growth in shipments – up 67% q/q. However, EPS wasboosted by foreign exchange gain (6 cent benefit) and zero tax rate (3cent benefit). We are raising our 2010 estimate from 13 cents per shareto 45 cents per share due to higher shipment estimate (1050 MW vs.prior estimate of 900 MW).”
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