Roth Capital Remains Positive On Trina Solar While Sentiment In The Stock May Be Challenged
In a research report published Tuesday, Roth Capital analyst Philip Shen maintained a Buy rating on Trina Solar (NYSE:TSL) with a price target of $25, which represents a potential upside of 141% from where the stock is currently trading. The report comes after the company has released its financial results for the third-quarter.
Shen wrote, “TSL posted mixed Q3 results, narrowed its 2014 guidance, and canceled a large 130MW project. As a result, the stock traded off 5% on the day. We believe investors are looking for the company to provide more visibility into its plans for its projects on B/S, including the capital needs required. Additionally, investors may be looking for greater visibility on its capacity expansion plans and the potential capex needs in 2015. Although clarity will likely be enabled by the outcome of the US/China trade case, we may still be months away from a resolution.”
The analyst concluded, “While sentiment in the stock may be challenged over the near-term as a result, we reiterate our Buy given TSL’s leading brand, low-cost manufacturing, and competitive positioning.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Philip Shen has a total average return of -8.2% and a 27.1% success rate. Shen has a -31.3% average return when recommending TSL, and is ranked #3313 out of 3377 analysts.