Tuesday, May 24, 2011

Yingli (YGE) Gets Some Sun from Citigroup (C)

China-based solar company Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) received a sunnier outlook from Citigroup (NYSE: C) analysts, who upgraded the company from a "Sell" rating to a "Hold" rating, although it didn't do much to sway the market, which continues to punish the weakened and crumbling solar sector.

Citigroup however did lower its price target on Yingli Green Energy from $11.00 to $9.75, pressuring the share price of the company downward.

Yingli Green Energy Holding Company Limited participates in the design, development, marketing, manufacture, installation, and marketing of photovoltaic products in China and around the world.

Yingli closed Monday at $8.80, falling $0.25, or 2.76 percent.

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