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Published: Fri, August 26, 2016
Economy | By Melissa Porter

Trina Solar Shares Continue Higher Following Strong Q2 Report

Trina Solar Shares Continue Higher Following Strong Q2 Report

Trina Solar Limited (NYSE:TSL)'s stock had its "hold" rating reaffirmed by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Wednesday. The Median price target for the stock is listed at $5.

The company reaffirmed its fiscal year 2016 (FY16) guidance range of 6.30-6.55 GW, of which 220-260 MW will be sent to its downstream projects. During its last trading session, Stock traded with the total exchanged volume of 1.09 million shares. The company most recent volume stood at 11.52 million shares as compared to average volume of 12.69 million shares.

Trina Solar Limited's (TSL) has price-to-cash ratio of 2.15 and price to sale ratio of 0.30.

The company shares ended in the negative zone on the BSE losing 2.51 percent at Rs 2,109.65, bringing down its market cap to Rs 2,299.52 crore.

Trina Solar (NYSE:TSL), the world's largest solar panel manufacturer, reported robust growth for Q2 2016, driven by expanding module shipments (+62% y-o-y) and declining manufacturing costs (blended cost per watt down 6%).

Net revenues of Trina Solar advanced from $722.9 million to $961.6 million and exceeded the analysts' predictions of $866.56 million. During the same quarter previous year, the firm shipped 1,231.6 megawatts. Analysts predict that Trina Solar Limited will post $1.17 earnings per share for the current year. The shares have accelerated in recent weeks, with their price up about 20.46% in the past three months. Trina Solar Limited Sponsored A presently has a P/E Ratio of 10.00. Analyst's mean target price for Toll Brothers Inc. Finally, Zacks Investment Research raised Trina Solar Limited from a "sell" rating to a "hold" rating in a report on Thursday, August 11th. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. For the stock, price target value has been calculated at $10.73 based on calls of 9 experts. The plan includes first merging with Fortune Solar Holdings and Red Viburnum. Bank of Montreal Can acquired a new position in shares of Trina Solar Limited during the second quarter valued at $166,000.

ReneSola Ltd. SOL is scheduled to report second-quarter results on Aug 24. 2 Months Ago, shares have been suggested as "BUY" from "0" brokerage firms and recommended as "Strong Buy" by "2" brokerage firms.

This compares with total shipments of 1,423.3MW in the first quarter of 2016, consisting of 1,370.4MW of external shipments and 52.9MW of shipments to its downstream power projects. The Company has integrated the manufacturing of ingots, wafers and solar cells for use in its photovoltaic (PV) module production.

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