Hat tip to StreetInsider.com for this alert today:
Collins Stewart doubled its price target on Trina Solar (TSL) from $11 to $22 and maintained its Buy rating saying, “A combination of factors drives the adjustment to our price target. Since we launched coverage, the prospect for China to become a significant consumer of solar modules has improved, as a limited solar subsidy program has been announced and more are expected in the months ahead. Valuations … Read the rest
Trina Solar (TSL) is announcing 3 new sales agreements with (yet unnamed with the exception of Bull Solar for 12MW) customers in Germany for delivery this year and totaling 42MW which is about 20% of what the company delivered all of last year so a decent sized order.
“We are pleased to see continued demand growth from traditional markets such as Germany,” said Arturo Herrero, Trina Solar’s Vice President of Sales & Marketing. “With our … Read the rest
Trina Solar (TSL) announced today the completion of a 4.7MW solar energy facility developed by Ergy Capital at the end of February in which Trina was the supplier of the PV modules used in the rooftop installation. The project in the town of Serravelle Scrivia is currently the largest single mounted rooftop solar system in Italy, using about 38K square meters of solar panels and generating around 5 GW/hour of electricity per year.
“We are … Read the rest
A hat tip to StreetInsider.com for these notes from Friedman Billings & Ramsey regarding China’s solar policy. As you probably know the solars took off in a big yesterday, particularly the big China plays such as Suntech (STP) and Trina Solar (TSL). They ran on a report that China would be supportive of local solar development and offer subsidies but details have been fuzzy.
After some extensive checks with their contacts in China, FBR is … Read the rest
Can you say short squeeze! Wow, what a move in the China solars today. Looking at the board to my left, both TSL and STP are up over 50% and some of the other China solars are up anywhere from 20 – 40%. It’s hard to believe that an article speculating that the China government will be supportive of local solar development would cause a move of this magnitude but when you consider the amount … Read the rest
Trina Solar has completed what is currently the largest rooftop solar array in the United States. The 2.4 Mw installation consists of 13,400 of Trina Solar’s solar modules installed on top of the Atlantic City Convention Center. It will meet about one quarter of the building’s energy needs and save about $4.4 million in energy costs over the next 20 years.
Jifan Gao, Trina Solar’s Chairman and Chief Executive Officer, commented on the occasion in … Read the rest
Trina Solar (TSL) reported results this morning with an EPS loss a bit lighter than expected at .03/share vs the estimate of a .04 loss. Revenues were a bit better than expected as well at $216 million vs the analyst estimate of $201 million and exceeding the company’s previous guidance of $190 – $210.
“Despite the challenging global economic and financial climate, we are pleased with our strong performance in the fourth quarter,” said Mr. … Read the rest
Trina Solar announced today that its 4th quarter revenues should exceed the company’s forecasts of $190 million to $210 million. The company will also reduce its short-term debt to $249 million, a decrease of $41 million dollars.
So, that’s the good news. The bad news is that the company expects weak margins for the 4th quarter. Reuters has the details:
… Read the restTrina said in a statement it would take a charge of between $16 million to
Are the tides turning for the solar industry? After months of doom and gloom forecasts, downgrades and price target cuts some upgrades and positive notes are beginning to slowly trickle in from analysts. Ah oh, time to sell!
Barron’s reported today that Merrill Lynch came out with a report today saying that improving second derivative trends suggest the industry is headed for a cyclical bottom. They went on to say that while demand won’t recover … Read the rest
According to StreetInsider.com, Citi is out maintaining it’s HOLD rating on Evergreen Solar (ESLR) but cut the price target from $6 to $3.
Says Citi:
“We applaud ESLR’s new strategy to focus on its competitive advantage making wafers that use less silicon. But even with much lower capital intensity, it still faces a tradeoff between slowing capacity expansion to preserve cash or gunning it, hoping to raise money. While this move makes this stock … Read the rest