Jefferies Maintains a 'Buy' on Yingli Green Energy (YGE); 3Q11 In Line with Pre-release; China and High Efficiency the Bright Points

Jefferies maintains a 'Buy' on Yingli Green Energy (NYSE: YGE) price target of $5.50.

Jefferies analyst said, "YGE is unique among the publically traded Chinese solar stocks in that it 1) is profitable ex write downs, 2) has the highest exposure to the fastest growing market - China at 40% of 3Q11 sales, and 3) is the only company shipping high efficiency technology in volume. The stock is trading at 0.5x TBV, in line with leading peers, but we believe YGE will outperform fundamentally mid-term."

However, Jefferies lowers FY11 EPS estimate from $0.83 to $0.35 and FY12 from $0.77 to $0.05.

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 $3.96 yesterday.

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