Jefferies Maintains a 'Buy' on Yingli Green Energy (YGE); Best Positioned for China Solar Market Growth
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Price: $1.43 --0%
Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies maintains a 'Buy' on Yingli Green Energy (NYSE: YGE) price target of $5.50.
Analyst, Jesse Pichel, said, "YGE reset investor expectation with a $574M non-cash write-down but guided to 30% 1Q12 shipment growth as well as 50%+ 2012 shipment growth. Massive share gains from the low cost producers do not bode well for industry pricing. YGE also made cautionary comments with respect to subsidy reductions in Europe (Germany/Italy) as well as implications from trade cases in US and potentially Europe. YGE’s growth will come primarily from China. We believe Yingli is the best positioned in China with 22% of 2011 revenue from China. We believe YGE can potentially do 800MW-1GW, roughly 35%+ of 2012 revenue."
Jefferies lowers FY12 EPS estimate from $0.10 to (0.56) and FY13 from $0.92 to $0.88.
For an analyst ratings summary and ratings history on Yingli Green Energy click here. For more ratings news on Yingli Green Energy click here.
Shares of Yingli Green Energy closed at $3.74 yesterday.
Analyst, Jesse Pichel, said, "YGE reset investor expectation with a $574M non-cash write-down but guided to 30% 1Q12 shipment growth as well as 50%+ 2012 shipment growth. Massive share gains from the low cost producers do not bode well for industry pricing. YGE also made cautionary comments with respect to subsidy reductions in Europe (Germany/Italy) as well as implications from trade cases in US and potentially Europe. YGE’s growth will come primarily from China. We believe Yingli is the best positioned in China with 22% of 2011 revenue from China. We believe YGE can potentially do 800MW-1GW, roughly 35%+ of 2012 revenue."
Jefferies lowers FY12 EPS estimate from $0.10 to (0.56) and FY13 from $0.92 to $0.88.
For an analyst ratings summary and ratings history on Yingli Green Energy click here. For more ratings news on Yingli Green Energy click here.
Shares of Yingli Green Energy closed at $3.74 yesterday.
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