Wells Fargo Downgrades Trina Solar (TSL) to Market Perform; Can't See the Upside Potential

Wells Fargo downgraded Trina Solar (NYSE: TSL) from Outperform to Market Perform, price target range lowered from $8-9 from $7-$8.

Wells analyst says, "We are downgrading our rating on Trina Solar as the shares are trading within our prior $8-9 valuation range and we just don't see enough earnings power through 2013 to justify further upside from 2/23 levels. In our view, the pricing environment is just too difficult and likely won't improve given additional subsidy cuts in Germany and import tariff risk in the U.S. We lower our 2012/2013 EPS estimates to - $1.09/$0.69 (prior $0.54/$0.90) and our valuation range."

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 $8.63 yesterday.

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