Auriga Maintains a 'Buy' on Yingli Green Energy (YGE); Sliding Sideways
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Price: $1.43 --0%
Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 14 | New: 16
Rating Summary:
2 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 14 | New: 16
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Auriga maintains a 'Buy' on Yingli Green Energy (NYSE: YGE), PT $14.50.
Auriga analyst says, "We maintain our rating and price target on shares of Yingli after the company pre-announced lower Q1 shipments after delay to bring certainty to Italy's subsidy regime. We are surprised by the announcement as we figured YGE had a more robust customer base and that the near-term weakness in the Italian market should have been mitigated by shipments to other geographies. Near-term units and prices are impacted by a shift in deliveries toward 2H11, but our 2H11 price and full year shipment estimates remain unchanged. Despite the knock to management credibility, we expect Q1 to be 2011's bottom for YGE in terms of shipments and feel risk to further 2011 estimate cuts is largely past. Our $14.50 target is 10x our unchanged 2012 EPS estimate of $1.45."
For more ratings news on Yingli Green Energy click here and for the rating history of Yingli Green Energy click here.
Shares of Yingli Green Energy closed at $11.36 yesterday.
Auriga analyst says, "We maintain our rating and price target on shares of Yingli after the company pre-announced lower Q1 shipments after delay to bring certainty to Italy's subsidy regime. We are surprised by the announcement as we figured YGE had a more robust customer base and that the near-term weakness in the Italian market should have been mitigated by shipments to other geographies. Near-term units and prices are impacted by a shift in deliveries toward 2H11, but our 2H11 price and full year shipment estimates remain unchanged. Despite the knock to management credibility, we expect Q1 to be 2011's bottom for YGE in terms of shipments and feel risk to further 2011 estimate cuts is largely past. Our $14.50 target is 10x our unchanged 2012 EPS estimate of $1.45."
For more ratings news on Yingli Green Energy click here and for the rating history of Yingli Green Energy click here.
Shares of Yingli Green Energy closed at $11.36 yesterday.
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