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Amtech Cuts Price Target on Yingli Green Energy (YGE) to $27
Just a day after Piper Jaffray maintained its price target of $45 on YGE, Amtech is cutting its own price target from $36 to $27, which is still more than $10 from current levels.
According to StreetInsider.com, the firm calls Yingli’s earnings strong but believes there are reasons for concern such as the company’s cash balance and reliance on short term debt to fund expansion.
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