Monday, October 20, 2008

Goldman Sachs Upgrades Trina Solar Limited to Neutral. Lowers Target from $24 to $12 (TSL)

Update: A word of explanation. I've been at the market my entire adult life and I have no idea what this upgrade means. Does predicting a price 17.8% below today's while being neutral imply that is what GS expects of the overall market? Is the upgrade CYA should the company come in at the average analyst estimate of $1.16 for the quarter (implying an annualized P/E of 3.14?).
Original post:
I'm having trouble typing I'm laughing so hard. Trina was recently trading hands at $14.60, down 15 cents.
From StreetInsider:
Goldman Sachs upgrades Trina Solar Limited (NYSE: TSL) from Sell to Neutral, but lowers their price target from $24 to $12....