Yingli Green Energy Shares Higher Again; Deutsche Bank Maintains Hold

November 30, 2012 by  
Filed under Green Energy News

Shares of Chinese solar panel maker Yingli Green Energy Holdings Co. (YGE) built on yesterday’s gains, rising almost another 6% after the company’s earnings reflected the hardships facing solar firms. But news of its largest project supply deal created optimism.

While the company appears to be gaining market share against Tier 1 Chinese peers, its heavy exposure to Europe, which is seeing major contraction in demand, and ongoing cash burn and the deterioration of its balance sheet will likely loom over the stock until there are further signs of improved profitabiilty, Deutsche Bank analyst Vishal Shah writes, maintaining a hold rating on the stock but cutting the target price to $2 from $2.50.

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