Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17% in April. German cuts have long been expected, but some had called for a 10% reduction later in the year, so this is a bit more than what some expected. Not to mention solar stocks (the China names in particular) have been on a tear, so any negative news was bound to throw … Read the rest
Tag Archives: trina solar
Collins Stewart Raises Targets & Estimates On CSIQ, TSL
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 … Read the rest
Suntech (STP) & Trina Solar (TSL) Smash Earnings Estimates, Trading Higher
Two pillars of the China solar industry, Trina Solar (TSL) and Suntech Power (STP) smashed the low expectations of analyst estimates this morning.
TSL reported a Q3 EPS of $1.29, versus the analyst estimate of $0.75. Revenue for the quarter was $249.7 million, much greater than the analyst estimate of $216.30 million. Shares are trading higher again this morning, up about 4%.
Suntech (STP) reported Q3 EPS of $0.16, 9 cents better than the analyst … Read the rest
Trina Solar (TSL) Gets 108MW Supply Deal With PROINSO
Trina Solar (TSL) is announcing a new 108MW supply deal this morning with PROINSO, a European distributor of solar equipment. Shipments are expected to begin soon and continue through the first half of next near with PROINSO having the option to purchase another 12MW in the first quarter of next year. The solar modules will be sold at predetermined prices and will be used in projects in Spain and Italy.
Said a VP of Trina, … Read the rest
Trina Solar (TSL) Furthers Italian Expansion With 73MW Kerself Supply Deal
Trina Solar (TSL) announced after the bell yesterday that it has entered into a 73MW sales agreement with Kerself which is a leading Italian solar company. Trina will supply Kerself with an initial 23MW of PV solar modules in the 4th quarter of this year and another 50MW in the first half of the next year.
Said VP of TSL Arturo Herrero, “We are excited to announce this new sales agreement with Kerself Group to … Read the rest
Trina Solar (TSL) Extends Long Term Supply Agreement With GCL-Poly
Trina Solar (TSL) has announced this morning that it has extended its eight year supply agreement with GCL-Poly another five years, extending the supply deal through 2020. GCL-Poly will supply Trina Solar with enough polysilicon and wafers to produce about 8500MW in solar modules over the next 13 years.
“We are very pleased to strengthen our long-term relationship with GCL-Poly by further extending the tenure of the agreement,” said Trina CEO Jifan Gao. “This extension … Read the rest
Hapoalim Securities: Gloomy Days Ahead For Most Solar Stocks (FSLR, WFR, STP, SPWRA)
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
Trina Solar (TSL) Gets $300 Million Loan For Expansion
Trina Solar (TSL) received a 5 year, approximately $300 million loan with a floating interest rate from five China banks, led by the Agricultural Bank of China to fund a 500MW capacity expansion at its East Campus. … Read the rest
Deutsche Bank: CSIQ Fairly Valued; Credit Suisse: TSL Initiated At Overweight; Masquarie Downgrades Of SPWRA, CSIQ; ZOLT to BUY
A few analyst rating changes are out this morning..
Analyst comment below courtesy of StreetInsider.com.
Deutsche Bank is out this morning maintaining its hold rating on Canadian Solar (CSIQ) but is lowering the price target from $17 to $13. The firm says, “Recent inputs from various solar PV companies and less than hoped for improvement in the demand picture for larger systems (due to financing availability) cause us to reassess our outlook for solar … Read the rest
Trina Solar (TSL) Beats On EPS, Says "Market Confidence Returning To PV Sector"
Trina Solar (TSL) is trading a bit higher after the bell today after the company beat EPS estimates on revenues that were about inline. Taking out one time write offs and gains, the company reported an EPS of .42/share which beat analyst estimates of .32/share but represents a significant hair cut from the year ago quarter when it posted 1.01/share. Still, it’s an improvement over last quarter’s .33/share. Revenues came in at $150 million which … Read the rest