Oct 7, 2011 - Equinet today upgraded its recommendation on German photovoltaic (PV) group Solarworld (ETR:SWV) to "accumulate" from "hold" and kept the share price target at EUR 4.60.
A disappointing PV exhibition as well as the profit warning released by sector player SMA Solar Technology AG (ETR:S92) do not signal sector recovery, analyst Stefan Freudenreich wrote in a study.
Solarworld's share has already recovered from the recent price drop, the analyst added.
At 1349 CET today Solarworld's share gained 1.52% to EUR 3.339 in floor trading on the Frankfurt Stock Exchange. The stock advanced 2.25% to EUR 3.323 at 1333 CET on Xetra.
(EUR 1.0 = USD 1.343)
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