North Coast Solar Stocks

October 19, 2009

Yingli shares jump as analyst upgrades stock

Filed under: TSL, YGE — Tags: , , , , — Jason @ 2:55 pm

Yingli Green Energy shares climb as analyst upgrades stock to ‘Outperform’

2:55 pm EDT, Monday October 19, 2009

NEW YORK (AP) — Yingli Green Energy Holding Co. (YGE) stock rose on Monday as an analyst upgraded the solar cell maker to “Outperform” from “Neutral,” saying shares are set to climb on stronger prices, cost advantages and increased market share.

Yingli shares climbed 77 cents, or 6.1 percent, to $13.50 in afternoon trading. The stock has traded in a 52-week range of $2.50 to $16.35.

In a note to clients, Macquarie Equities Research analyst Kelly Dougherty said she still prefers Trina Solar (TSL), given its slight cost advantage, but still expects Yingli to take market share from its higher-cost peers in 2010.

“The second half of 2009 is likely to be strong for many solar companies, particularly those outside Europe, and we believe Yingli will be one of the clear winners,” Dougherty said. She added that pricing pressure has not been as intense as expected, a surprise that has helped the company.

She raised her full-year profit estimate to 30 cents per share from 17 cents per share. For 2010 she boosted estimates to $1.03 per share from 83 cents per share.

She increased her share price target for the company to $15 from $12.

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