Goldman Sachs Downgrades Yingli (YGE) to Sell, Cuts Target to $8

Goldman Sachs downgraded shares of Yingli Green Energy (NYSE: YGE) from to Sell Friday morning, also cut the stock's price target from $11.90 to $8.

The firm notes the following factors for the downgrade:

• Yingli's higher cost structure, given its relatively inflexible poly cost structure
  
• higher operating cost leverage vs. its peers, due to its higher SG&A and minority interest expenses vs. its peers.

Goldman said while it likes Yingli's "management team's solid operation track record, we are concerned about the greater earnings vulnerability of YGE vs. its peers."

Yingli shares last traded at $8.14 in pre-market action, down about 2.5 percent from Thursday's closing price.

For more ratings news on Yingli Green Energy click here and for the rating history of Yingli Green Energy click here.

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