Trina Solar Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Trina Solar (NYS: TSL) are shining bright today, up by as much as 16% after receiving an analyst upgrade from Auriga.
So what: Auriga upgraded a slew of other solar players in kind, including SunPower (NAS: SPWR) , MEMC Electronic Materials (NYS: WFR) , Suntech Power (NYS: STP) , and Yingli Green Energy (NYS: YGE) . SunPower, MEMC, Trina, and Yingli all now carry buy ratings, while Suntech was only granted a hold rating.
Now what: MEMC was previously considered a hold while the rest were considered sells, so the upgrade shows a stark contrast to Auriga's prior ratings. All of the upgraded shares are seeing healthy upside today amid a broadly upbeat day, but Trina is enjoying the biggest gains. Auriga also bumped its price targets on all of the companies accordingly, raising Trina's from $3.50 to $9, which represents a 30% premium to yesterday's closing price of $6.91.
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At the time this article was published Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.