Suntech Falls Most in Two Months on Citigroup ‘Sell’
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China’s Suntech Power Holdings Co., the world’s largest maker of polysilicon solar-power modules, fell the most in two months in New York after Citigroup Inc. recommended selling the stock and said next year’s earnings may miss analysts’ estimates.
Suntech declined 7 percent to $10.57, the biggest drop since May 6. Trina Solar Ltd., a Changzhou, China-based maker of solar modules, lost 2.8 percent to $20.52 after Citigroup initiated coverage of the stock with a “buy” rating. Yingli Green Energy Holding Co., based in Baoding, China, fell 4.4 percent to $11.86 after being rated “hold.”