MEMC Shares Slide; Citi Cuts Estimates, Target

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MEMC Shares Slide; Citi Cuts Estimates, Target - 07-22-2008, 06:50 PM

MEMC Electronic Materials (WFR) shares are under pressure today following a cautious note this morning from Citigroup’s Timothy Arcuri. Arcuri, who has a Hold rating on the stock, cut his price target to $64 from $85. He maintains his 2008 EPS estimate of $4.26 a share, and raised his 2009 estimate by a penny to $5.50, [...]

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