SunEdison Semi falls after underwriter launches

Deutsche, Macquarie, and Wells Fargo have launched coverage of SunEdison Semi (SEMI -2.9%) with bullish ratings, and Citi and Goldman have launched with neutral ratings.

Deutsche's Vishal Shah, who today upgraded parent SunEdison (SUNE +10.2%) to Buy, sees SEMI's cost advantage leading to chip wafer share gains, and notes the company is a leader in the high-ASP specialty wafer space. He also thinks a new wafer supply deal with top customer Samsung could boost SEMI's share.

Shares still +29% from last month's $13 IPO price.

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