Trina Solar (TSL) Surges on Upgrade to Buy
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Price: $13.70 +6.45%
Rating Summary:
7 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Trina Solar (NYSE: TSL) is up 9 percent in early trading Monday following an upgrade at BofA/Merrill Lynch.
The firm raised its rating two-notches form Underperform to Buy and and lifted its price target from $2 to $17, which suggests 68% upside from Friday's close.
BofA/Merrill Lynch initially steered investors correctly after initiating coverage on the stock on 10/7/2011 with an Underperform rating. Shares fell as low at $5.80 after that call. However, they were late with their upgrade as shares moved 26% above the $8 level they traded at at the time of the original call. Notwithstanding today's move, shares of Trina has gained 58% since December 19th.
Investors are betting so far this morning that today's upgrade is the right move despite the recent action.
The firm raised its rating two-notches form Underperform to Buy and and lifted its price target from $2 to $17, which suggests 68% upside from Friday's close.
BofA/Merrill Lynch initially steered investors correctly after initiating coverage on the stock on 10/7/2011 with an Underperform rating. Shares fell as low at $5.80 after that call. However, they were late with their upgrade as shares moved 26% above the $8 level they traded at at the time of the original call. Notwithstanding today's move, shares of Trina has gained 58% since December 19th.
Investors are betting so far this morning that today's upgrade is the right move despite the recent action.
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