LDK, Trina Solar Tumble as Piper Jaffray Reduces Recommendations

LDK Solar Co. (LDK) 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) 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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.