8. China's LDK Solar (LDK), is engaged in the production of solar wafers and solar modules. Sales of multicrystalline and monocrystalline wafers, increased 23.1% during the past one month.
Of the 22 analysts covering the stock, 41% recommend a buy while 41% suggest a hold. On average, analysts polled by Bloomberg foresee the stock rising 17.9% in the upcoming 12 months.
The company's efforts to accelerate and complete the 1.5 gigawatt cell and module production facility in Hefei, a technology sharing agreement with U.S. National Renewable Energy Laboratory (NREL), strong relationship with Tinsinghua University and its interest to invest in research and development indicate a bright future for LDK Solar. The company recently announced plans to raise $149 million through a secondary share offering on the NYSE for general corporate purposes and is keen to buy a 70% controlling stake worth almost $33 million in Solar Power. This will ramp up its large utility, industrial and business level distributed generation systems.
The company expects fourth quarter sales in the range of $870 to $910 million, compared to the older estimate of $710 to $750 million. LDK Solar has raised gross margin guidance range to $25% to 27% from the earlier $24% to 26%. Revenue growth for 2011 is projected at $3.5 to $3.7 billion with gross margins between 23% and 28%.
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