UPDATE: Auriga Lowers Yingli Green Energy's PT

According to a research report published earlier today, Auriga has lowered Yingli Green Energy's

PT from $5.00 to $3.50. Auriga explained the reason for the change: “Yingli Green is a negative surprise on shipments, gross margins, and the magnitude of its inventory/asset write-offs. Profitability is a mirage for now, and like most of the solar PV industry, Yingli Green's profitability will have to wait until 4Q12. Maintain Hold rating.” Yingli Green Energy closed yesterday at $4.81.