Piper Reiterates Yingli Green Energy Buy; Amtech Systems Collaborates with YGE

Last week, Lazard Capital and Collins Stewart upgraded and maintained their Buy ratings on Yingli Green Energy (YGE). Today, it’s Piper Jaffray’s turn. The firm reiterates its Buy rating on Yingli and is raising the price target from $13 to $17.

Comments from Piper according to StreetInsider.com:

“We believe Germany is the most import market for growth in 2009. YGE has 50-70% of its production contracted with leading German distributors and installers, greater than peers. We believe its panels are now priced low enough to win ground based projects in Germany. Unsolicited and solicited data points from leading German distributors and installers confirm that YGE quality is as good as panels from Europe, with a more compelling price point. We believe YGE’s 90MW contract with industry leader IDC proves this point. We note other Chinese suppliers were removed from IDCs and Phoenix’s vendor list…We believe higher efficiencies may be in the works for 2010.”

Yingli surged again yesterday, up nearly 9%.

In other Yingli news, Yingli Green Energy is announcing a collaboration with the Energy Research Centre of Netherlands and Amtech Systems (ASYS) to develop and implement high efficiency N type silicon solar cells, named PANDA. The solar cells will use Netherland’s designs, the solar diffusion technology and dry PSG removal expertise of Amtech and Yingli’s production line and cell process technology.

“Yingli Green Energy always strives to be at the forefront of the latest technological developments in the PV industry,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “To that end, we are very pleased to be entering into a cooperation that combines our strong commercialization capabilities with the strengths of a global research institution and a leading equipment supplier. We look forward to playing a crucial role in the introduction of the next generation of high efficiency solar cells. PANDA aims at significantly raising the efficiency of crystalline silicon solar cells and at commercializing the new technology quickly on our production lines.”

Comments

[Ricard:]

It's hilarious how 'professional' analysts essentially go with the herd. The herd, at least for YGE, has stampeded this stock, pushing it from $3 a share up to today's $15. When do the analysts scream buy? Only AFTER the run-up, rarely if ever before.

And you wonder why the general public buys high and sells low...

Jun 09 11:53 PM