Collins Stewart reiterates a 'Buy' on Trina Solar Ltd. (NYSE: TSL), raises price target to $56 from $51.

Collins analyst says, "Our 4Q09 EPS is raised to $1.29 from $1.02, putting us well above the $1.07 consensus. Similar changes to 1H10 drive our CY10 EPS to $4.50 from $3.65, with $0.74 of that revision coming from changes made to 1H10. The current demand surge in the solar market is driving TSL's margins and EPS to record levels. However, our forecast assumes margins revert to more normal levels in 2H10 as the market's supply and demand normalize. Modest changes to our CY11 assumptions drives EPS to $4.70 from $4.26...With CY09 coming to a close, we believe it is proper to base our PT on CY11 but at a lower P/E (12x vs. 14x in this case). Due to its leading cost structure among standard module vendors and strong balance sheet, TSL is our top investment recommendation among module vendors."

Source: streetinsider.com