North Coast Solar Stocks

September 10, 2009

Yingli 3Q to rebound on demand

Filed under: YGE — Tags: , , , , — Jason @ 8:40 am

Analyst raises Yingli price target and estimates, citing 3rd-qtr demand surge

Thursday September 10, 2009, 8:40 am EDT

NEW YORK (AP) — A new surge in demand could push Yingli Green Energy Co. Ltd. (YGE) to capacity in the third quarter, said an analyst on Thursday as he raised his price target and estimates for the solar cell maker.

Collins Stewart analyst Dan Ries said that solar demand trends in recent weeks have been very good, especially for vendors with high exposure to German and U.S. markets. Ries added that Yingli customers have indicated that the company has exhausted capacity and has had to delay some delivery schedules.

This demand rebound prompted Ries to raise his shipment and profit forecasts for Yingli. He now expects third-quarter shipments to reach 180 megawatts, compared with his earlier estimate of 170 megawatts.

“We believe this demand surge has much of the industry bumping against capacity, which can help to stabilize prices,” Ries said.

For the year, Ries raised his estimates for Yingli to a loss of 28 cents per share, up from his prior forecast of a 39 cent per share loss. Ries boosted his 2010 estimates to a profit of $1.05 per share, from 89 cents per share. Analysts polled by Thomson Reuters expect earnings for 2009 and 2010 to amount to a loss of 12 cents per share and a profit of 77 cents per share, respectively.

Ries rates Yingli “Buy” and raised his price target for the company to $16 from $14. Shares of the company closed at $13.16 on Wednesday.


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