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Suntech: Collins Stewart Cuts Rating; Stock Slumps

Suntech (STP) shares are under pressure this morning after the solar company was downgraded this morning by Collins Stewart analyst Dan Ries to Hold from Buy. He also trimmed his 2008 EPS estimate for the company to $1.63 from $1.76; for ‘09, he goes to $2.39, from $2.69.
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