Wednesday, July 8, 2009

First Solar Upgraded, Yingli Downgraded by ThinkEquity (FSLR; YGE)

From Tech Trader Daily:

ThinkEquity analyst Colin Rusch this morning upgraded First Solar (FSLR) to Buy from Accumulate, lifting his price target to $188, from $180. He also raised his 2010 EPS estimate for the company to $8.99, from $8.55, above the consensus at $8.52.

“Given the recent sell-off of solar stocks and FSLR’s 29% move lower from its May high, we believe investors can begin to get constructive on the stock in anticipation that the company meets Q2 estimates...MORE
From China Analyst:

Yingli Green Enery (NYSE:YGE): Downgraded by ThinkEquity; Recent Financing Dilutive to Earnings

ThinkEquity downgrades Yingli Green Energy (NYSE:YGE) from Buy to Accumulate, and cut their price target from $15 to $12.

Think Equity analysts consider Yingli's recent financing activities to be dilutive to earnings. These activities included issuance of 18.6 million new shares, selling $29.3 million convertible note, and the opening of a 2-year credit facility of $100 million....MORE

Or, as 24/7 Wall Street headlined the moves on Monday:

Yingli Secures New Credit Facilities, Further Complicates Structure (YGE)