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We have conflicting views on Yingli Green Energy (YGE) out of Janney
Montgomery and HSBC. Janney is upgrading it from Neutral to Buy with
and has a price target of $20.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrade Yingli Green Energy to BUY, as the outlook for pricing and thus margins have improved. Yingli is a major price setter, and they are guiding to a more benign pricing environment in 2010. We continue to see robust demand for PV products (YGE is currently shipping more than its current nameplate capacity), and we expect demand to firm up further in CY2010. Further, there is other evidence that prices are beginning to stabilize, and we believe that this trend will continue. The combination of strong demand, better credit, and stable supply is holding prices and leads us to raise our YGE shipment and margin estimates across the board and upgrading YGE to BUY from Neutral…We are taking our CY2009, CY2010, and CY2011 EPS estimates up to ($0.19), $1.12, and $1.39 from ($0.30), $0.80 and $0.91, respectively.”
On the other side of the coin, HSBC downgraded Yingli from Overweight to Underweight and slashed the price target from $16 to $12. Shares are holding firm in premarket trading.
