In a report published Thursday, Deutsche Bank analyst Vishal Shah downgraded the rating on Yingli Green Energy Hold. Co. Ltd. YGE from Buy to Hold, and lowered the price target from $5.00 to $3.00.
In the report, Deutsche Bank noted, “Although we continue to believe that Chinese exposure will play out favorably over the long term, Yingli's balance sheet concerns, recent guidance cuts, and ongoing policy uncertainty provide limited upside, in our view. On a relative basis, we prefer downstream installers with more financial flexibility, and within the Chinese companies we prefer Trina Solar. Downgrade Yingli to hold, $3 PT.”
Yingli Green Energy closed on Wednesday at $2.10.
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