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Trina Solar (TSL) & Yingli Green Energy (YGE) Get Hapoalim Downgrades
According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the most important thing to consider with the solars right now is that they just ran up too far too fast off the bottom. It’s time to focus on the best names and let the pull backs play out. YGE looks compelling below $10 and extremely compelling around $7.
TSL also gets a downgrade from Buy to Hold and a price target of $24 for the the same reason.
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