Friday, February 11, 2011

Auriga's Mark Bachman Reiterates "Buy" on Trina Sees Upside In Q1 Europe Module Shipments" (TSL)

The ADR's are up 2% at $27.38, lagging the 4 and 5% moves of  JASO and First Solar.
From Barron's Tech Trader Daily:
Auriga Securities analyst Mark Bachman today reiterates a Buy rating on solar panel module maker Trina Solar (TSL) and a $41 price target, writing that his “industry checks” suggest that “the industry will be able to report better-than-expected shipment guidance into Q1, and that a few select top-tier solar companies will be able to guide shipments sequentially higher.”

Bachman has revised upward his estimate for Q1 photovoltaic module shipments to 315 megawatts, up from a prior 303 megawatts, with upside coming from Italy and the U.S. Bachman figures Trina can increase its module capacity by 10% this quarter compared to Q4.

Bachman’s estimate for Q1 is not going higher, however, as he’s concerned about declines in average selling price. He does note, though, that his estimates are above consensus: he’s modeling $523 million in revenue in Q1, and $1 in EPS, versus the consensus $485 million and 90 cents...MORE