Suntech Power Price Target Cut to $0.50 by Analysts at Citigroup (STP)

Suntech Power (NYSE: STP) had its target price cut by Citigroup to $0.50 in a report released on Tuesday.

Shares of Suntech Power (NYSE: STP) traded down 13.70% during mid-day trading on Tuesday, hitting $0.5057. Suntech Power has a one year low of $0.41 and a one year high of $3.30. The stock’s 50-day moving average is currently $1.29. The company’s market cap is $91.5 million.

A number of other analysts have also recently weighed in on STP. Analysts at Zacks reiterated a neutral rating on shares of Suntech Power in a research note to investors on Monday. They now have a $0.75 price target on the stock. Analysts at Raymond James downgraded shares of Suntech Power from a market perform rating to an underperform rating in a research note to investors on Wednesday, March 6th.

Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Suntech Power has a consensus rating of Sell and an average target price of $0.95.

Suntech Power Holdings Co, Ltd. (NYSE: STP) is a solar energy company. Suntech is principally engaged in the design, development, manufacturing and marketing of photovoltaic (PV) products and also provides engineering, procurement and construction services to building solar power systems using its own solar modules for residential, commercial, and utility-scale power plant customers.

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