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LDK Solar Shares Slide as ThinkEquity Downgrades to Sell

in News on February 20, 2009 at 11:35 am PT

LDK Solar shares are trading sharply lower this morning after ThinkEquity analyst Jonathan Hoopes cut his rating on the stock to Sell from Buy. He cut his target price on the stock to–get this–$4.50, from $45. The more bearish stance follows an earnings warning from the company earlier this week. Hoopes points out that the company’s $210 million to $220 million inventory write-down raises new concerns about a 2007 controversy involving allegations over inventory accounting issues.