UPDATE: Gilford Securities Raises PT on MEMC Electronic Materials, Business Model Clearer
In a report published Tuesday, Gilford Securities maintained a Buy rating on MEMC Electronic Materials (NYSE: WFR) with a $9.00 price target.
Gilford securities reported that, “There is now more clarity to MEMC's business model. The shift to the downstream was a bold move by management, but failed to excite investors. As a result, the stock price suffered due partly to confusion over the business model. However, the growth in the solar project business is cementing the company's identity as a major solar project developer.”
MEMC Electronic Materials closed at $4.77 on Monday.
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