Gilford Securities Reiterates Buy Rating on GT Solar International (SOLR)

Gilford Securities is out with a research report this afternoon, where it reiterates its Buy rating on GT Solar International SOLR; it has a $13.00 price target on the stock. The analysts said they continue to view GT Solar positively as the demand for solar generated power continues to be strong despite phantom concerns. They added that they are of the opinion that GT Solar is entering a new phase as a more assured and more independent company as it seeks to build its leadership position in the solar and LED businesses. As for valuation, the analysts remarked, “We are raising our estimates for fiscal FY2011 (Mar) from $0.85 to $1.04 and for fiscal FY2012 from $1.01 to $1.35. Our price target of $13 is based on 10x calendar 2011 EPS estimate.”