Trina Solar (NYSE: TSL) was upgraded by Maxim Group from a “sell” rating to a “hold” rating in a research note issued on Thursday.
The analysts wrote, “Ex-tariff, 1Q margins/EPS beat the Street, but 2Q guidance points to more losses. While our outlook for depressed solar economics and EPS losses for TSL has not changed, we have become more sanguine on the stock itself. As valuation tools shift from earnings to asset/survival value, we expect TSL to hold up better than most due to its superior cost structure and debt load. In turn, we upgrade to Hold from Sell and remove our price target of $5.”
A number of other firms have also recently commented on TSL. Analysts at Mirae Asset cut their price target on shares of Trina Solar from $10.40 to $7.70 in a research note to investors on Thursday. Separately, analysts at Ardour Capital cut their price target on shares of Trina Solar from $7.50 to $6.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Finally, analysts at Auriga upgraded shares of Trina Solar from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, April 17th. They now have a $9.00 price target on the stock.
Shares of Trina Solar traded up 5.95% during mid-day trading on Thursday, hitting $5.88. Trina Solar has a 52 week low of $5.01 and a 52 week high of $28.84. The company’s market cap is $478.4 million.
Trina Solar last announced its earnings results on Wednesday, May 23rd. The company reported ($0.42) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.30) by $0.12. Trina Solar’s revenue was down 36.5% compared to the same quarter last year. On average, analysts predict that Trina Solar will post $-0.09 earnings per share next quarter.
Trina Solar Limited (Trina Solar) is an integrated solar-power products manufacturer based in China with a global distribution network covering Europe, North America and Asia.
