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Piper Maintains BUY On Yingli (YGE) & $45 Price Target
According to StreetInsider.com, Piper Jaffray is reiterating its Buy rating on Yingli Green Energy (YGE) and maintains a price target of $45 on the stock, which would be a triple from current levels.
The firm believes YGE has the lowest processing cost in the industry and the highest poly cost today which levers it to the eventual spot poly price reduction that they see happening in 09. The firm also likes the fact that the company is diversifying away from Span and into other markets.
Yingli Green Energy (YGE) is in the process of carving out a large double bottom base and it appears poised to start a new leg up in the coming months.
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