Collins Stewart Boosts Price Target on Yingli Green Energy (YGE) to $18.50
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Collins Stewart raises its price target on Yingli Green Energy (NYSE: YGE) from $11 to $18.50, maintaining their Buy rating.
While the firm is raising their price target, they are reducing CY10 forecast by $0.02 to $1.10 from $1.12 due to several changes, most notably the recent secondary offering with adds 15.6M shares to the company's share count.
The revised $17 price target reflects a 17x P/E applied to their $1.10 CY10 forecast.
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