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NEW YORK — Barclays Capital on Tuesday maintained its 2009 earnings expectations for Chinese solar company Yingli Green Energy Holding Co. even though some of its peers are expected to struggle.
Barclays said in a research note that Yingli should nearly double its shipments of solar products in the third quarter.
Nevertheless, Barclays analysts maintained their earnings expectations for the solar company. Yingli is expected to earn 24 cents a share in the third quarter and 12 cents per share in the fourth quarter. Company profits are expected to be 25 cents a share for all of 2009.
Barclays said the solar industry should see a drop in solar module prices this year. Polysilicon, which is used to build solar panels, also has stopped dropping in price, making it harder for solar companies to cut costs.
Meanwhile, other analysts have been generally pessimistic of other solar companies such as Tempe, Ariz.-based First Solar, which has tried to boost sales with a costly rebate program.
