Suntech Power (NYSE:STP) to Build 500GW Photovoltaic Project in Ningxia Province
"Strong Buy" Rated U.S.-Listed Chinese Stocks (February 17, 2012)
By Henry Wang
Suntech Power (NYSE:STP) will build a 500 MW photovoltaic project in China's Ningxia Province, reported Ningxia Daily on July 10. Under the agreement with local governments, Suntech intends to invest $1.17 billion in this project, which is located at the city of Shizuishan.
Suntech shares are up 23% year-to-date. On average, wall street analysts are expecting its revenue and EPS to rise 32% and 146% in 2010 over 2009. Out of the 31 wall street analysts covering STP, seven have a positive rating on the stock. STP is is currently the third largest U.S.-listed solar power company in terms of market cap.
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