The Latest On Sunedison (SUNE), Pacific Ethanol (PEIX), Textron (TXT)

Sunedison Inc (NYSE:SUNE), billed as U.S. best-performing solar company in 2014, could invest about $2 billion in a polysilicon manufacturing plant in China. The company revealed that it was already in talks with a Chinese company over the same. The decision to expand capacity in China comes as the company cited cost-benefit issues. According to Sunedison Inc (NYSE:SUNE), setting up a production base in China will make its polysilicon cheaper and boost its competitive edge in the market. For example, the company expects production cost for the material to be less than $6 per kilogram, which would be about $2 cheaper than what the cheapest competitor offers currently. A kilogram of polysilicon sells for $20.96.

Sunedison Inc (NYSE:SUNE)’s current capacity is 17,000 tons of polysilicon a year, but the Chinese plant alone would have a production capacity in the range of 20,000-30,000 tons a year. In addition to China, the company also has its eyes set on expansion to Saudi Arabia.

Analysts at Cowen upgraded their opinion on the stock of Sunedison Inc (NYSE:SUNE) to “outperform” from “market-perform”. They also raised their price objective on it to $24 from $20.

TheStreet lost favor with Pacific Ethanol Inc (NASDAQ:PEIX) and narrowed its view on the stock. The firm now has the stock on a Hold list, down from a Buy. All that happened as TheStreet cited that there was no clarity in the stock to justify the expectation of a positive or negative performance. However, it is not all bearish for Pacific Ethanol Inc (NASDAQ:PEIX). The stock carries a Buy rating and a target price of $28 at Craig Hallum, which recently initiated its coverage. Analysts at Cowen also launched coverage of the stock with an Outperform rating and a target price of $29.

Textron Inc. (NYSE:TXT)’s 3Q2014 has turned out to be a very successful one. The aircraft maker reported 61% jump in profit $159 million or $0.57 per share. Revenue also grew 18% to come in at $3.43 billion, mostly supported by the aviation arm in which revenue increased 82%. Textron Inc. (NYSE:TXT) said the overall performance for the quarter was supported by new aircraft models and a drop in used-aircrafts for sale.

About the Author

Cooper is a graduated from Buffalo State College in New York with a bachelor's degree in Broadcast Journalism.

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