The least helpful call coming out of Wall Street’s Finest today might just be from Merrill Lynch, and it is a reduction in the price target of Suntech Power Holdings—ticker STP, last trade $32.07—from $100 to $55.
And while we no strong opinion either way on Suntech, its prospects, or its current market valuation, the analyst concludes with what surely goes down as the least comprehensible paragraph in our email inbox:
While weak macro sentiment could still de-rate solar further, we believe near-term industry concerns are mostly in price; STP is our top pick; Stress-testing new strategy suggests favorable risk/reward; lack of an ’09 consensus view provides buying opportunity.
Which is why this gets our vote at the Least Helpful Call You Will Get Today.
Of course, as always, the day is still young.
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The content contained in this blog represents the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews' recommendations. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.