Janney Montgomery Scott is maintaining its Buy rating on YGE following earnings and raising the price target whopping 50 cents to $18. Hat tip to Street Insider for the following analyst comment:
“Yingli Green Energy reported strong Q4 results (excluding extraordinary items) and gave very bullish 2010 guidance. Given YGE’s ability to achieve its 2009 guidance (despite difficult conditions in the solar market) and the fact that 90% of 2010 shipments are currently under contract, … Read the rest
Yingli Green Energy (YGE) is down about 7% this morning after reporting another big surge in revenues, but missing analyst estimates on the EPS side. The company reported an adjusted non GAAP EPS of .13/share which missed by a penny and is flat over the year ago quarter. Revenues were much better at $370 million, representing a 44% increase over the year ago quarter and well ahead of the $326 million estimate.
Here are … Read the rest
Yingli Green Energy just announced that it will be expanding manufacturing capacity at its Baoding headquarters. The project will involve building PANDA mono-crystalline silicon-based manufacturing lines capable of producing 300 MW per year of mono-crystalline ingots and wafers, cells and modules. The PANDA production lines use technology developed through Project PANDA, Yingli Green Energy’s collaboration with Energy Research Centre of the Netherlands and Amtech Systems, Inc.
To finance the project, Yingli also announced that it … Read the rest
Yingli Green Energy (YGE) has signed a 10MW sales agreement with New Jersey based SunDurance to supply them with PV modules through the 3rd quarter of this year. The company’s have worked together before but this is the largest deal between the two as Yingli works to expand their business in the US.
Managing Director of Yingli Americas Robert Petrina commented: “Our growth strategy in the U.S. is focused heavily on the commercial and utility-scale … Read the rest
China solar stocks have been crushed over the past month, but today are green on a day when the market is down significantly. This is the kind of relative strength that indicates that perhaps they have reached a turning point. I think it’s too soon to call a bottom in the China solar stocks, but this is a good start. The relative strength certainly isn’t without a catalyst .. Deutsche came out with a bullish … Read the rest
GT Solar International (SOLR) announced a $20 million order for its DSS450 solar ingot furnace about a week ago and the CEO commented then that the company was seeing a pickup in demand as China solar manufacturers look to increase capacity.. he wasn’t kidding! This morning the company has announced $200 million in new orders for its industry leading furnace, ancillary equipment and services. The new orders include a $137 million follow on order (which … Read the rest
Yingli Green Energy just announced the signing of a 3 year framework agreement with German solar integrator Gehrlicher Solar AG. Per the agreement, Yingli will supply 285MW worth of PV modules to Gerlicher for the next 3 years, until 2012. The modules will be used in installations across various European markets.
In a press release, Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented on the agreement:
“We are pleased to … Read the rest
Barcays is out with a few solar downgrades this morning..
Suntech Power (STP) gets downgraded from Overweight to Equalweight with a new price target of $12 from $16
Yingli Green Energy (YGE) downgraded from Overweight to Equalweight and price target slashed to $11 from $19
LDK Solar (LDK) downgraded from Equalweight to Underweight and price target halved to $4 from $8
Evergreen Solar (ESLR) downgraded from Equalweight to Underweight with the price target now under … Read the rest
Yingli Green Energy (YGE) just announced that the Chinese government has approved the company’s application to use their manufacturing base in Baoding, China as the site of the country’s first State Key Laboratory of PV Technology. The purpose of the laboratory will be to foster the development of world class solar PV development in China, and Yingli will have dibs on commercialization rights to technologies developed there.
In a press release, Mr. Liansheng Miao, Yingli’s … Read the rest
Yingli Green Energy is slated to receive a tax credit of $4.5 million for building a manufacturing facility in the US. The company plans to build a 100MW facility in the US, though it has not yet settled on a site. A location is expected to be announced in the next few weeks and the facility is expected to be up and running by the end of the year.
In a press release, Mr. … Read the rest