UPDATE: Maxim Group Cuts PT to $12 on STR Holdings

Maxim Group reduces its price target $3 to $12 on Buy-rated STR Holdings

as latest guidance resets expectations. Maxim Group says, "Though 4Q results were in line, guidance for a (30%) decline in 2012 revenue was well below the Street. As this assumes flat volumes Y/Y, we forecast upside to guidance based on a 2H volume rebound. While the stock is likely to face pressure on lower estimates, we believe the next shake-out likely marks a bottom." STRI closed at $6.26 a share on Tuesday.