UBS upgrades stance on Centrotherm to "neutral", cuts share target
Nov 30, 2011 - UBS today upgraded its recommendation on German solar power technology maker Centrotherm Photovoltaics (ETR:CTN) to "neutral" from "sell" but reduced the share price target to EUR 10 from EUR 11.
The company's share price more than halved since the profit warning announced at the end of October, but the current challenges for the solar sector are more adequately priced in, analyst Jean-Francois Meymandi wrote in a study.
However, the analyst's reduced expectations for the company's earnings per share (EPS) in 2012 and 2013 stand below the market projections.
Despite a potential major order from Algeria, it is hard for the margin of the company's Silicon & Wafer division to be predicted.
By 1617 CET today Centrotherm's share had gained 2.76% to EUR 10.045 on Xetra.