Suntech Power (NYSE:STP) Needs to Give Answers on "Pluto"

Suntech Power (NYSE:STP) had its price and earnings per share targets lowered by Jefferies, as the company looks like it has major challenged with Pluto and expansion.

There will be an analyst day coming up on December 6, and Jefferies says investors and analysts should be looking for three things:

"1) 2011 capacity expansion plan and required capex;

2) wafer capacity ramp up and its impact on cost structure; and

3) road map to fix Pluto encapsulation and interconnection issues and ramp up Pluto capacity."

Earnings per share estimates were lowered for full year 2011 to ($0.43)/$2,777.6 million from ($0.38)/$2,618 million. For full year 2012 the company lowered their EPS estimates $0.01 to $1.02.

Suntech was trading at $7.48, losing $0.05, or 0.66 percent at 10:39 AM EST.