Friday, April 17, 2009

LDK: Street Estimates Way Too High, Cowen Says

The Cowen analysts are among the best in the space. From Tech Trader Daily:

Street estimates for LDK Solar (LDK) for both 2009 and 2010 are far too high, Cowen analyst Raj Seth asserted in a research note this morning.

Seth today cut his own 2009 revenue estimate to $1.24 billion, from $1.44 billion, chopping his EPS estimate to 47 cents from 75 cents. The Street consensus is far higher, at $1.49 billion and $1.26. (The company’s guidance is for revenue of $1.4 billion to $1.8 billion.) For 2010, he goes to $1.50 billion in revenue and $1.09 a share, from $1.72 billion and $1.88. Again, the Street numbers are much loftier, at $1.86 billion and $2.16 a share....MORE