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Barclays Reduces Suntech Power Target To $16 (STP)

Barclays Capital reduces their price target on Suntech Power (NYSE:STP)to $16 from $17.50 and maintains an Equal Weight rating. Barclays analysts cut their financial estimates on Suntech becausethey believe solar module prices could decrease more than expected in2009 and 2010. They note Suntech’s competitors have aggressivelycutting prices in the German market, which creates pressure for thepricing of Suntech [...]

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