Jefferies analyst Jesse Pichel cut his rating on the stock to Hold from Buy.

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Piper Jaffray analyst Jesse Pichel said high prices for polysilicon--a key material used in solar cell manufacturing--eroded LDK's margins.

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Pichel keeps his Buy ratings on Power-One, Yingli and Trina.

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Meanwhile, Jefferies analyst Jesse Pichel this morning repeated his Buy rating on the stock following meetings in New York yesterday with CFO John Kurtzwell.

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"We believe gross margin will continue to fall at a similar rate given the higher price of scrap silicon which we have confirmed in our recent trip to China, " Pichel said.

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