Suntech Power (STP) Downgraded by Collins Stewart

Suntech Power (STP) stock was downgraded this morning by Collins Stewart from a Buy rating to a Neutral rating.  Suntech Power price target has also been adjusted from ten dollars to eight dollars.

Suntech Power is slated to have their next earnings release on May 25, 2011 before the market open.  The current street estimate for STP currently stands at $0.36 per share for the upcoming earnings report.

Shares of Suntech Power are currently trading beneath its 50 & 200 day moving averages with support located at the $7.97 price level.  STP is currently trading with a yearly gain overall for 2011.

Suntech Power (STP) designs, develops, and manufactures PV wafers and also market a variety of PV cells and modules, including a broad range of value-added BIPV products. Since 2010, they have also began to manufacture silicon wafers used for the manufacture of their PV cells and modules. Their products are used to provide reliable and environmentally friendly electric power for residential, commercial, industrial and public utility applications in various markets worldwide. Suntech also provides commercial and utility scale PV system integration services in China.

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