ReneSola, Ltd. (SOL)

ReneSola, Ltd. (<a href=&quot;javascript:void(0)&quot; onclick=&quot;quotepop(&#39;sol&#39;)&quot;>SOL</a>) - With a predominantly bearish outlook, we downgrade SOL to a SELL recommendation. The company is dogged with tightening credit markets, rising debt levels, pressure on ASPs, rising feedstock costs, and fissures in its Chinese customer base. <p> Furthermore, the company divested its stake in its polysilicon joint-venture with Zhongsheng Steel and is planning to postpone part of its expansion plans. In the long-run however, increased captive generation of solar wafer and ingots along with falling polysilicon prices will improve its cost structure and improve earnings.

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