Goldman Sachs Upgrades WFR to Neutral Rating and Lower PT

According to a recent report, Goldman Sachs has upgraded MEMC Electronic Materials WFR from Sell to Neutral as Goldman Sachs sees a more balanced risk/reward on the company. Goldman Sachs has also lowered the 6 month price target on WFR from $11.00 to $10.00. In the report, Goldman Sachs said, "We believe (1) expected cost savings and potential market share gains in semi materials and (2) continued rapid growth in downstream solar could be sources of upside. Therefore, we see a more balanced risk/reward profile with 15% upside to our new $10, six-month, DCF- and multiples-driven price target." WFR closed yesterday at $8.67.