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.
Interested in more info on Trina Solar? Add it to your watchlist byclicking here.
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.
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