UPDATE: "Co-Bookrunner on Recent Offering (Credit Suisse) Raises Trina to 'Outperform' (TSL)"
Someone once called Trina "The belle of the solar ball". [that was you -ed]
The stock is up $1.59 at $23.73. The underwriters exercised the over-allotment option for the recent follow-on offering and the stock's been trading up.
Analyst Comments – Cowen’s Rob Stone weighed in on Trina Solar (NYSE:TSL) this morning, maintaining his OUTPEFORM rating, seeing “50%+ upside potential” for the stock vs. the market in 12 months.
· Revised model to reflect recent equity offering, which he said provides capital for capacity expansion, and working capital amidst tightening credit in China.
· The 9.085 million in additional ADS result in reduction of 2010-13E/ADS by 9%-12% to $2.00, $2.43, $3.05 and $3.81....