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UPDATE: Citigroup Initiates Yingli Green Energy at Neutral on High Leverage to Industry

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Citigroup initiated coverage on Yingli Green Energy (NYSE: YGE) with a Neutral rating and a $3.50 price target.

Citigroup noted, "As a quality Tier 1 pure-play panel manufacturer in China, YGE is highly leveraged to a recovery in the sector as the industry S/D tightens over the next few years. That said, the industry is not only going through a cyclical trough but structural headwinds as well – mainly the commoditization of the modules business. Hence, our favorable stance towards more downstream players versus upstream manufacturers. We remain on the sidelines on challenging industry fundamentals."

Yingli Green Energy closed at $3.17 on Tuesday.

Latest Ratings for YGE

DateFirmActionFromTo
Nov 2016Axiom CapitalDowngradesBuySell
Nov 2016Credit SuisseAssumesUnderperform
Oct 2016Axiom CapitalUpgradesSellBuy

View More Analyst Ratings for YGE
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Analyst Ratings

 

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