Equities researchers at Cowen and Company raised their price target on shares of Trina Solar (NYSE:TSL) from $10.00 to $21.00 in a research report issued on Wednesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 31.58% from the company’s current price.
A number of other firms have also recently commented on TSL. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Trina Solar in a research note to investors on Wednesday. They now have a $23.00 price target on the stock. Separately, analysts at Roth Capital upgraded shares of Trina Solar from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $20.00 price target on the stock, up previously from $18.00. Finally, analysts at S&P Equity Research upgraded shares of Trina Solar to a “strong-buy” rating in a research note to investors on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.44.
Shares of Trina Solar (NYSE:TSL) traded up 4.66% on Wednesday, hitting $15.96. 9,518,602 shares of the company’s stock traded hands. Trina Solar has a 52-week low of $2.04 and a 52-week high of $17.84. The stock has a 50-day moving average of $16.11 and a 200-day moving average of $9.87. The company’s market cap is $1.131 billion. Trina Solar also was the recipient of unusually large options trading on Tuesday. Traders purchased 11,494 call options on the company. This represents an increase of 286% compared to the typical volume of 2,975 call options.
Trina Solar (NYSE:TSL) last issued its quarterly earnings data on Tuesday, November 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.28. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $472.92 million. During the same quarter in the previous year, the company posted ($0.81) earnings per share. The company’s revenue for the quarter was up 84.0% on a year-over-year basis. On average, analysts predict that Trina Solar will post $-1.41 earnings per share for the current fiscal year.
Trina Solar Limited (NYSE:TSL) is an integrated solar-power products manufacturer based in China with a global distribution network covering Europe, North America and Asia.
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