UPDATE: Wunderlich Securities Cuts PT to $3.50 on BTU International; Low Solar Demand

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Wunderlich Securities lowers its price target from $4.50 to $3.50 on Hold-rated BTU International
BTUI
as solar orders remain depressed and shares trade near cash value. Wunderlich Securities comments, "BTUI International (BTUI) reported 1Q11 results on May 1, after the close, and met consensus estimates for revenue of $16.3 million and a loss per share of $0.21. It also guided to lower revenue in 2Q12 so we are cutting estimates and lowering our price target. Margins will be hurt by underutilized facilities in the U.S. and China and there may be a further write-off of older inventory." BTUI closed at $2.98 on Wednesday.
Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsWunderlich Securities
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