Jefferies Sees Nearly 70% Upside In Yingli Green Energy (YGE)

Jefferies & Co. is reiterating its Buy rating on shares of Yingli Green Energy (NYSE: YGE) as it expects YGE to be one of the best positioned solar producers going forward. It has a $17 price target, nearly 70% higher than where shares are currently trading.

In a note to clients, Jefferies writes, "Yingli (YGE) is the largest vertically integrated solar module maker WW, distinguished by one of the lowest crystalline silicon module cost structures, a superior quality reputation, and a premier customer base. We believe these factors will allow YGE to outperform peers despite less pronounced industry growth in 2011."

Shares of Yingli Green Energy closed at $10.81 yesterday.