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