Yingli Green Energy (YGE), a China-based vertically integrated photovoltaic (PV) product manufacturer, has plummeted below $15, about 1/3 of its price at the beginning of 2008.
That collapse is pretty much the status quo for the solar industry right now amid worries about solar subsidy cuts and a broader bear market. But Piper, who rarely sees a solar stock it doesn’t like, is again undeterred.
Piper believes YGE is the best positioned stock in solar long term because it has the lowest non-silicon processing cost. And, of course, Piper sees YGE beating consensus estimates for Q2.
Piper reiterates BUY on Yingli Green Energy (YGE).
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