According to StreetInsider.com, Collins Stewart is out this morning joining the solar bull parade and raising the targets and estimates for both Canadian Solar (CSIQ) and Trina Solar (TSL).

They reiterate the Buy rating on Canadian Solar and padded the price target to $40 from $26. The firm cites “slightly higher volumes and a higher average selling price in Q210.” Raised Q2 ASP assumption from $1.70/w to $1.80/w and its CY10 shipment forecast from 585MW to 610MW. The CY10 EPS estimate moves from $2.00 to $2.50. The firm also introduced CY11 EPS estimate of $2.70.

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They also reiterate the Buy rating on Trina Solar and raise the price target from $56 to $75.  The firm cites “higher module price assumption for Q2” and believes that 2010 will be a “front-loaded year for TSL’s earnings.” The firm raised its CY11 EPS estimate from $4.70 to $5.00.

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Considering the runs these two names have had, I would not be jumping in up at these levels.  The patient will get a better price.