Credit Suisse Dims Solar Expectations (JASO, SOL, STP)

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By Douglas A. McIntyre Updated Published
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Solar_panel_picCredit Suisse has come out today with a call against the solar sector from its Asian team.  It is not downgrades, but the firm slashed its price targets to more in-line levels after these stocks have all sold off sharply

JA Solar Holdings (NASDAQ: JASO) target cut to $10.00 from $17.00, shares down 3.5% at $4.65 pre-market,

ReneSola Ltd. (NYSE: SOL) target cut to $13.30 From $29.00, shares down 3% at $5.77 pre-market.

Suntech Power Holdings (NYSE: STP) target cut to $20.00 from $50.00, shares down 2% at $14.95 pre-market.

Because of the severe drop in share prices we have seen in recentmonths, these new price targets may start to get adjusted at morebrokerage firms to levels which are more in-line with current prices.For many of the old price targets to get hit you would have to ralliesin many cases to the tune of 150% to 200% or more.

Jon C. Ogg
October 31, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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