LDK Solar (NYSE:LDK) announced it signed contracts to supply solar modules to two leading electric power companies in China. The first sales contract is for 30 MW of solar modules in the Qinghai province to be delivered in August and the second is for 5 MW of solar modules in the Jilin province to be delivered in the first half of 2012.Xiaofeng Peng, Chairman and CEO of LDK Solar stated, “We are pleased to continue to support the expansion of the solar industry in China, which has grown rapidly over the last several years. These contracts demonstrate continued demand for our solar modules within China.”LDK Solar has a potential upside of 86.6% based on a current price of $6.59 and an average consensus analyst price target of $12.3.LDK Solar is currently below its 50-day moving average (MA) of $7.78 and below its 200-day MA of $10.70.
Bad news, investors: The Dow Industrials’ 300-plus-point drop Monday markedly increases the likelihood that the bull market has neared its end – if it hasn’t already. Marketwatch’s Mark Hulbert explains on MoneyBeat. Photo: Getty.