LDK Solar Ltd. (NYSE:LDK) soared on news they raised their guidance in the third quarter for revenue and shipment of wafers.
Revenue estimates were raised from the original $570 million to $600 million range to $610 million to $640 million.
Wafer shipments in the third quarter were also upwardly revised from estimates of 520 MW to 550 MW to 550 megawatts to 570 MW.
After the improved guidance UBS (NYSE:UBS) upgraded LDK from "Neutral" to "Buy." They also raised their price target to $12.
LDK soared to $11.48, gaining $1.68, or 17.14 percent at 12:39 PM EDT.
No comments:
Post a Comment