MEMC

Lehman Brothers analyst Tim Luke is touting WFT this afternoon with a note:

• "Channel checks and discussions with polysilicon suppliers lead us to conclude that the polysilicon shortage is likely to continue through into 2008 and potentially 2009. We estimate that poly spot prices have increased over 160 percent year-over-year to around $200/kilogram in 2006," Luke wrote in a research note. "Near term, we believe our second quarter 2006 estimate of revenues of $360 million and earnings per share of 42 cents could prove conservative given the poly pricing environment."

I have to agree with Mr. Luke. This is one of my favorite stocks, and I have been in and out of a bit. I believe the stock remains very cheap here.