UPDATE: Maxim Group Lowers PT on STR Holdings to $15

Maxim Group is out with its report today on STR Holdings STRI, lowering its PT from $19 to $15. In its report, Maxim Group writes, "Applying a P/E multiple of 12.5x, a premium to the sector average of ~8x due to our view of better growth prospects, to our lower 2012E non-GAAP EPS estimate of $1.18 (a PEG ratio of 1.0x vs. EPS growth 2011-14), we lower our price target to $15, from $19." Maxim Group maintains Buy on STRI. Shares of STRI closed Tuesday at $7.47, down 9.23% from Monday's close.