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Analysts are weighing in today on alternative energy concern Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), tech issue Tibco Software Inc. (NASDAQ:TIBX), and coal miner Peabody Energy Corporation (NYSE:BTU). Here's a quick roundup of today's bearish brokerage notes.
- YGE -- which is down 41.6% year-to-date to trade at $2.77 -- received a price-target cut to $6 from $8 at Deutsche Bank in pre-market action. Also this morning, YGE released comments on the U.S. Department of Commerce's new import duties on solar products from China. The stock shed 6.1% of its value out of today's gate, as Wall Street is wary of the negative implications the ruling may have on the solar power industry in the U.S. Meanwhile, in the options pits, Yingli Green Energy Hold. Co. Ltd. (ADR) boasts a 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 41.07, with calls bought to open outnumbering puts by a roughly 41-to-1 margin. What's more, this reading ranks in the 81st annual percentile, meaning the rate of call buying, relative to put buying, has been heavier than usual during the past two weeks.
- No fewer than seven brokerage firms downwardly revised their positions on TIBX, after the company last night released weaker-than-expected preliminary earnings results for the second quarter. For example, Stifel downgraded the equity to "hold" from "buy," and Wedbush decreased its price target to $19 from $25. Tibco Software Inc. is down 18.8% so far in 2014 to trade at $18.30, after plunging 12% out of today's gate, and tagging a new annual low of $18.21. Meanwhile, on the options front, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.37 ranks in the bottom 12% of its annual range, indicating short-term speculators are more call-heavy than usual toward TIBX right now.
- BTU has shed 14.8% of its value in the past month to trade at $16.05, and this morning, received a price-target cut to $20 from $21 at Jefferies. Meanwhile, the average 12-month price target comes in at $21.82, denoting expected upside of 34.1% from the shares' current price. Plus, 12 of the 18 covering analysts have dished out "buy" or better recommendations on Peabody Energy Corporation. With that being said, more downgrades and/or price-target cuts may be on the way, which could create additional pressure on the stock.