Wedbush Maintains Neutral on China Sunergy (CSUN)

Wedbush is out with its report today on China Sunergy (NASDAQ: CSUN), maintaining Neutral.

In a note to clients, Wedbush writes, "We are NEUTRAL on China Sunergy's shares relative to its peers. While we believe the company has the potential to lower its cost structure as it becomes more vertically integrated, we would look for the company to demonstrate consistent and sustained profitability as a module manufacturer before becoming more positive on the stock. In the context of our relative rating system, we expect China Sunergy shares to trade in line with our solar technology coverage universe."

Wedbush has a $5 PT on CSUN.

Shares of CSUN closed Thursday at $4.08, up 3.03% from Wednesday's close.