Analysts Cautiously Bullish On Yingli Green Energy (YGE) Following Earnings

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11:13:54 am on August 22, 2011

I just posted about the bullish earnings report out of Yingli Green Energy (YGE).  I think traders were looking for upside guidance from the company which is why the stock traded down again Friday, but some analysts are upgrading the stock this morning, giving it a boost. 

==> Click Here For Your FREE Daily Yingli Technical Analysis

HSBC upgraded the stock from Underweight to Neutral, but has a price target of only $5.50 which is about where the stock is trading now.  The firm notes that gross margins were down sequentially and will fall again as prices continue to fall.

Piper Jaffray upgraded the stock as well from Neutral to Overweight but cut the price target from $8 to $11.  The firm believes Yingli cemented its status as a Tier 1 solar module supplier.

Avian Securities upgraded Yingli from Negative to Positive.

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