Auriga maintains a 'Buy' rating but lowers the price target from $34 to $24 on Trina Solar (NYSE: TSL) due to the depreciation of the euro versus the dollar.From Benzinga:
According to Auriga, "Our model assumes that roughly 65% of Trina's revenue will be denominated in Euros, and are only 40% hedged through 2011... We believe Trina is seeing significant demand for its product across Europe, and given our CSI data analysis, may be starting to see market share wins in the US.">>>MORE
Collins Stewart expects Trina to report a profit of 62 cents a share on revenue of $243 million. The Street is expecting 61 cents a share on sales of $228 million.
Collins Stewart said its second quarter EPS estimate of 41 cents a
shareand a top-line estimate of $329 million may prove to be too conservative. TSL shares trade at eight times Collins Stewart's 2011 estimate....MORE