China Solar Stocks: Barclays Says Buy Yingli, Sell Solarfun

Barclays Capital analyst Vishal Shah this morning picked up coverage of a half-dozen China-based solar stocks. His general view is that the stocks will be hampered in the near term by falling Street estimates and excess channel inventory, but that some stocks could outperform as polysilicon supply improves. Here’s a rundown on his new coverage:

Yingli Green Energy (YGE): Overweight rating, $12 target. “Yingli has [the] industry leading nonsilicon cost structure and among the highest exposure to declining spot silicon prices.”

Solarfun Power (SOLF): Underweight rating, $3.50 target. “Lack of sufficient cash balance, relatively low brand differentiation and downside risk to estimates could lead to share price underperformance.”

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