Credit Suisse Comments on Ming Yang, Maintains Underperform

Hilary Farrell, Benzinga Staff Writer

July 06, 2012 10:58 AM

Tickers: MY

Credit Suisse provided color on China Ming Yang Wind Power (NYSE: MY) in a research report published Friday, stating that the company's strategic partnership with Global Wind Power Limited is unlikely to generate significant revenue. Credit Suisse additionally maintained its Underperform rating.

In the report, Credit Suisse stated, "Given the MOU is non-binding in nature, and GWPL's lack of strong market position in India, we do not believe Ming Yang's investment in GWPL can bring substantial revenue to the company in the visible future. It does offer geographical diversification to MY's revenue mix amid the sluggish wind market in China, however."

Shares of Ming Yang were trading at $1.16 at the time of posting, down 1.69% from Thursday's market close.

Tags: Credit Suisse

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