UPDATE: Feltl and Company Maintains Hold Rating, Lowers PT for STR Holdings

In a report issued earlier today, Feltl and Company maintained its Hold rating for STR Holdings, Inc.

and lowered its price target from $6.50 to $4.00. Feltl and Company said in its report “Long term, STR has the potential to grow with the industry and the superiority of its product should allow for healthy margins and FCF. Near-term, however, we prefer to take a cautious approach to our rating and price target until we start to see signs that pricing has stabilized and orders are rebounding. Our new $4.00 price target is based on a 5.2x our revised NTM adjusted EBITDA estimate of $18.3 million. Given the recent price concessions the company has had to give to maintain share and the back-half weighted nature of current guidance, we prefer to wait for a clear signal that volumes have returned before getting more constructive on the stock.” STR Holdings, Inc. closed at $3.81 yesterday.