UPDATE - Auriga Downgraded Trina Solar (TSL) to Hold; Stepping Back After Recent Run-Up

UPDATE - Auriga downgraded Trina Solar (NYSE: TSL) from Buy to Hold, maintains price target of $9.00.

Auriga analyst says, "With Trina Solar stock's year-to-date price appreciation at ~54%, we are taking a step back by cutting its rating to a Hold, while leaving the $9 PT intact. Trina Solar is well positioned on fundamentals, but a better grasp of its ASP/cost dynamic is needed (see industry note). Solar PV stocks currently are trading on survival economics (on x TBV, NOT earnings) and earnings are not likely until 4Q12 given that costs have yet to catch up with sharp ASP declines seen in 2011. We expect ASP declines to be less onerous in 2012. Industry profit dynamic will be no different, but its cost structure guidance at $0.75/Wp to $0.80/Wp by 2H12 sustains its cost leadership , and makes it a leading beneficiary in a cost catch up and/or a price stabilization scenario."

To see more ratings on TSL, Click Here

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
• Morgan Stanley course-corrects their semiconductor equipment outlook on demand