Trina Solar Upgraded to “Buy” by Deutsche Bank (TSL)
Trina Solar (NYSE:TSL) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $18.00 price target on the stock, up from their previous price target of $11.50. Deutsche Bank’s target price would suggest a potential upside of 40.19% from the stock’s previous close.
A number of other firms have also recently commented on TSL. Analysts at RBC Capital reiterated a “hold” rating on shares of Trina Solar (NYSE:TSL) in a research note to investors on Wednesday, September 4th. They now have a $7.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Trina Solar (NYSE:TSL) from an “underperform” rating to a “market perform” rating in a research note to investors on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.85.
Trina Solar (NYSE:TSL) traded up 17.06% during mid-day trading on Friday, hitting $15.03. 9,678,498 shares of the company’s stock traded hands. Trina Solar has a 52 week low of $2.04 and a 52 week high of $13.66. The stock’s 50-day moving average is $9.8 and its 200-day moving average is $6.59. The company’s market cap is $1.065 billion.
Trina Solar (NYSE:TSL) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.10. The company had revenue of $440.70 million for the quarter, compared to the consensus estimate of $374.89 million. During the same quarter in the previous year, the company posted ($1.30) earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis.
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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