Deutsche Bank Downgrades Yingli Green Energy (YGE) to Hold; Other Solars Maintained at Buy (SUNE) (SCTY) (VSLR) (SPWR)
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Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 1
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Deutsche Bank downgraded Yingli Green Energy (NYSE: YGE) from Buy to Hold with a price target of $3.00 (from $5.00). SunEdison (NYSE: SUNE), Vivint Solar (NYSE: VSLR), SunPower (NASDAQ: SPWR), and SolarCity (NASDAQ: SCTY) were maintained at buy.
Analyst Vishal Shah said, "We are downgrading Yingli Green Energy to a Hold based on ongoing balance sheet concerns and limited positive catalysts/financial flexibility."
"We believe the recent volatility in solar stocks, driven largely by oil price weakness, presents an attractive entry point for investors as we expect 2015 to be a year of stable industry pricing and accelerating volume growth. We expect a balanced supply demand outlook as strong demand from the US and improving demand from China/other emerging solar mkts offsets any potential demand weakness in the UK/Japan. While weak oil prices could remain an overhang, our work suggests very little impact on solar demand fundamentals and expect several company specific positive catalysts in terms of execution of new/existing yieldcos. Our top picks include SUNE, SCTY, VSLR and SPWR," he added.
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 $2.10 yesterday.
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