BROKER INFO29 Jun 2011 08:19
Merchant Securities has downgraded its view of PV Crystallox (LON:PVCS) after the solar device manufacturer issued a profit warning this morning.
The broker, which had already moved to ‘sell’ on the share in March this year, believes that PV may fall into loss during the second half and it has lowered its earnings per share forecast for this year to 2.8 pence (PV’s EPS last year was 5.7 euro cents or five pence). The broker also reduced its target price for the shares to 33 pence from 41 pence.
Still a 30% odd upside from here...