Bloomberg News

LDK, Trina Solar Tumble as Piper Jaffray Reduces Recommendations

July 12, 2012

LDK Solar Co. (LDK:US) and Trina Solar Ltd. slumped in New York after Piper Jaffray & Co. cut its recommendation on the shares of the Chinese solar companies.

LDK, the world’s second-largest maker of wafers, lost 3 percent to $1.79 at 12:54 p.m. in New York. Trina, China’s fifth-largest solar-panel maker, fell 4.7 percent to $5.91.

American depositary receipts of Xinyu, China-based LDK were cut to underweight from neutral, while Changzhou, China-based Trina was lowered to neutral from overweight, Ahmar Zaman, an analyst at Piper Jaffray in New York, wrote in an e-mailed report today.

Yingli Green Energy Holding Co. (YGE:US) Ltd., China’s second- biggest solar-panel maker, was reduced to neutral from overweight, Zaman wrote. Shares slipped 2.5 percent to $2.73.

To contact the reporter on this story: Leon Lazaroff in New York llazaroff@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at Tbarak@bloomberg.net


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Companies Mentioned

  • YGE
    (Yingli Green Energy Holding Co Ltd)
    • $2.36 USD
    • 0.31
    • 13.14%
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