Suntech Power Holdings Co. Message Board

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Gold/Mining/Energy : Suntech Power Holdings Co.

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From: bob zagorin	8/21/2008 9:43:22 AM
	of 82

raising tgt to $70 - Jefferies STP Suntech Power: Q2 results solid, still counting on Spain; raising tgt to $70 - Jefferies (41.75 ) Jefferies is raising their tgt on STP to $70 from $67 noting that STP reported Q2 Non-GAAP EPS of $0.41 beating consensus by $0.06 and issued guidance above expectations. Firm notes that guidance represents a q/q decline in gross margin due to mgmt concerns about currency impact of a strengthening dollar. In their view, STP is poised to grow EPS rapidly and to sustain margins against potential rapid declines in module prices in 2009+, due to high leverage to silicon price reductions and the introduction of a new high-efficiency cell technology. Lastly, firm says a strong demand and pricing growth outlook for '09 could be colored by continued reliance on the Spanish market.

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