Axiom Capital Puts Sell on Suntech Power Holdings

Axiom Capital puts Sell on Suntech Power Holdings STP. In a research report published today, Axiom Capital states, "While the Street appears to be taking STP at its word on both: (1.) high-single digit QoQ ASP degradation in C2Q11, & (2.) low-single digit QoQ growth in shipments, with C2Q11 ASPs already down 16%, we believe a significant resetting of estimates is forthcoming; SELL." At the moment, Axiom Capital has a price target of $5 on the company's stock. On Monday, Suntech lost 0.52% of its value to close the day at $7.58.