Gilford Cuts Trina Solar (TSL) to Hold

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Gilford Securities just downgraded shares of Trina Solar (NYSE: TSL) from Buy to Hold in an intraday research note.

The firm bleieves that "despite our encouraging view for global PV demand in 2011 and 2012, we do not see panel vendors enjoying price stability in 2H11 and 1H12 due to increased capacity." Gilford sees solar panel supply-demand dynamics suggesting that supply will exceed demand in 2h11 and in 1h12.

Gilford currently is forecasting global PV demand at around 18GW and 22GW for 2011 and 2012, respectively.

For more ratings news on Trina Solar click here and for the rating history of Trina Solar click here.

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