Auriga Maintains Buy On Trina Solar (TSL) Heading Into Earnings, Sees Big Upside Surprise

Auriga is out this morning maintaining its Buy rating and raising the price target to $38 on Trina Solar (TSL) ahead of its earnings report next Tuesday.  They believe the company has been selling at higher prices and higher volumes than the Street predicts to finish out 2010 and that 2011 will be stronger than expected as well. 

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The firm believes the company will report a big upside surprise in the neighborhood of $40 million above current Street estimates with an EPS of $1.01.  They see even stronger results in Q4 with their estimates at $50 million higher than the Street in revenue and .10/share higher in EPS.

Shares of TSL are up a few percent today and back above support of the 200 day moving average.  There is still lots of technical damage that needs to be repaired in TSL.  I’m on the sidelines until after the report and until the stock can begin showing some technical improvement. 

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