J.P. Morgan Reports On Water Facilities In Japan

J.P. Morgan has issued a report on the state of the safe water facilities in Japan following the earthquake. According to the report, "MEMC Utsunomiya is the company's most advanced semi wafer facility and although representing only a modest percentage of its overall revenue, we think it generates better-than-average margins for the semi wafer biz. As a result, we think MEMC's semi wafer business is likely to be more affected on the bottom line than on the top line. Although unlikely, MEMC could perhaps delay some of the transfer of USbased semi wafer production to Asia temporarily in order to offset the issues besetting its Japan facility." MEMC WFR has an Underweight Rating and a $9.50 PT. MEMC closed yesterday at $12.98 a share.