Miller Tabak Raises Price Target on Trina Solar (NTSL), Sees Major Upside For Q4
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Price: $12.76 +0.87%
Rating Summary:
7 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
7 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Miller Tabak is reiterating it Buy rating on shares of Trina Solar (NYSE: TSL), while raising it price target from $9 to $12.
The firm notes profiting taking should be expected today after yesterday's run up. Miller Tabak also highlights improved fundamentals will begin to appear in companies fourth quarter figures. Analysts at the firm estimate a surge in German installations toward the end of 2011 may result in companies topping expectations.
Inventory levels at a majority of Chinese solar companies should show substantial reductions, slashing risk and the potential for further write downs.
For Q4, FY11 and FY12, the firm forecasts EPS of ($0.23), $0.11, and $0.90, versus the Street's consensus of ($0.38), $0.14, and ($0.31).
For an analyst ratings summary and ratings history on Trina Solar click here. For more ratings news on Trina Solar click here.
Shares of Trina Solar closed at $9.43 yesterday.
The firm notes profiting taking should be expected today after yesterday's run up. Miller Tabak also highlights improved fundamentals will begin to appear in companies fourth quarter figures. Analysts at the firm estimate a surge in German installations toward the end of 2011 may result in companies topping expectations.
Inventory levels at a majority of Chinese solar companies should show substantial reductions, slashing risk and the potential for further write downs.
For Q4, FY11 and FY12, the firm forecasts EPS of ($0.23), $0.11, and $0.90, versus the Street's consensus of ($0.38), $0.14, and ($0.31).
For an analyst ratings summary and ratings history on Trina Solar click here. For more ratings news on Trina Solar click here.
Shares of Trina Solar closed at $9.43 yesterday.
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