Trina Solar Limited (TSL) Lowered to Hold at Deutsche Bank
Trina Solar Limited (NYSE:TSL) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a $9.00 target price on the stock, down from their previous target price of $11.00. Deutsche Bank’s target price points to a potential upside of 3.33% from the stock’s previous close.
The analysts wrote, “executing well in a robust demand environment in the US and China. However, with outlook for H2 China market worsening, we expect increased pricing pressure to continue to impact 2H margins.” The company’s shipments outlook is extremely zealous. Trina Solar is assuming sequential growth in 2H, which requires China’s demand remains flat and demand in non-Chinese markets to increase from 20 percent to 45 percent. In Shah’s eyes, however, this seems too “aggressive.” Related Link: Gordon Johnson On Trina Solar: “Time To Press The Shorts”China takes up “roughly 35 percent of [the] overall mix”
Trina Solar Limited (NYSE:TSL) opened at 8.71 on Thursday. The stock has a market cap of $805.37 million and a PE ratio of 10.10. Trina Solar Limited has a 12 month low of $7.15 and a 12 month high of $13.25. The stock has a 50 day moving average price of $9.16 and a 200-day moving average price of $9.80.
Trina Solar Limited (NYSE:TSL) last released its earnings results on Thursday, May 26th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The company earned $816.90 million during the quarter, compared to analyst estimates of $786.08 million. During the same period in the prior year, the firm posted $0.16 EPS. Trina Solar Limited’s revenue was up 46.4% compared to the same quarter last year. On average, analysts expect that Trina Solar Limited will post $1.37 EPS for the current year.
Other large investors have recently modified their holdings of the company. Shelton Capital Management boosted its stake in shares of Trina Solar Limited by 13.3% in the fourth quarter. Shelton Capital Management now owns 94,000 shares of the company’s stock worth $1,036,000 after buying an additional 11,000 shares in the last quarter. Oceanic Investment Management LTD bought a new stake in shares of Trina Solar Limited during the fourth quarter valued at about $24,610,000. Guinness Asset Management Ltd boosted its stake in shares of Trina Solar Limited by 10.1% in the fourth quarter. Guinness Asset Management Ltd now owns 473,814 shares of the company’s stock valued at $5,221,000 after buying an additional 43,274 shares during the period. First Trust Advisors LP boosted its stake in shares of Trina Solar Limited by 2.2% in the fourth quarter. First Trust Advisors LP now owns 231,224 shares of the company’s stock valued at $2,548,000 after buying an additional 5,035 shares during the period. Finally, Numeric Investors LLC boosted its stake in shares of Trina Solar Limited by 16.1% in the fourth quarter. Numeric Investors LLC now owns 404,400 shares of the company’s stock valued at $4,456,000 after buying an additional 56,100 shares during the period.
Other analysts also recently issued research reports about the company. Roth Capital reaffirmed a “buy” rating and issued a $12.00 target price (down previously from $14.00) on shares of Trina Solar Limited in a research report on Tuesday, March 8th. Credit Suisse reissued a “neutral” rating and set a $14.00 price target (down previously from $15.00) on shares of Trina Solar Limited in a research report on Monday, March 21st. Finally, Axiom Securities reissued a “sell” rating on shares of Trina Solar Limited in a research report on Saturday, April 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Trina Solar Limited has an average rating of “Hold” and a consensus price target of $11.01.
Trina Solar Limited is an integrated solar power products manufacturer and solar system developer based in China with a global distribution network. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production. Its PV modules provide electric power for residential, commercial, industrial and other applications.