Tuesday, July 28, 2009

Trina: Collins Stewart Ups Target to $35 on Lower Costs (TSL)

The stock closed up a nickel at $29.92.
From Tech Trader Daily:
Collins Stewart analyst Dan Ries raised his price target today on solar technology provider Trina Solar (TSL) to $35 from $30 after Trina last night pre-announced sales in line with estimates for its second quarter ended in June and announced a secondary offering of 4 million common shares....

...Ries raised his profit estimates substantially on the lower costs, despite lower average selling prices for the company’s parts. His calendar year 2009 estimate goes to $2.25 from $1.11. His calendar year 2010 goes from $2.25 to $2.55. Both estimates, he points out, are bove the $1.29 and $2.27 Street estimates....MORE