Deutsche Bank Lowers Estimates for Suntech Power

According to a research report published today by Deutsche Bank, Suntech Power Holdings'

outlook on shipments appears worse than its peers, among other issues. “Q4 results were not surprising given the recent pre-announcement, but Q1 outlook appears to be somewhat worse than peers and could likely remain a source of concern for investors. STP's cost structure seems to be less competitive compared to peers such as TSL, YGE and the company's ability to maintain pricing premium may deteriorate, given the difficult industry environment and weakening balance sheet prospects. Company remains well positioned to win a large share of China business, but deteriorating fundamentals could likely remain a near term overhang on shares. Maintain Hold, $3 price target” Deutsche Bank explained in the report. Deutsche Bank maintains its Hold rating and $3 PT on Suntech Power, which is currently trading at $2.88.