Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in 2010, which is well above our previous forecast. Also, the Company gave 2010 gross margin guidance of 27-29%, which includes an ASP decline in the second half of the year. We believe these assumptions are achievable and consequently, we are increasing our 2010 EPS forecast to $1.00, from $0.92.”
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They have also upgraded Comverge (COMV) from Hold to Accumulate
“We raise our rating to ACCUMULATE and our price target to $12.50 on the belief that COMV has positioned itself well to move ahead on a strong 2010. COMV has addressed questions concerning its direction with the appointment of a new CEO and has put a string of one-time charges behind it. Our updated outlook is more optimistic over the long term and we recommend the stock at current levels.”