Citi Initiates Coverage on Trina Solar (TSL) with a Buy

July 12, 2010 9:08 AM EDT

Citi initiates coverage on Trina Solar (NYSE: TSL) with a Buy rating. PT $30.

Citi analyst says, "We see solid execution, no need for capital, conservative estimates, and sustained cell/module cost advantages all at a discounted valuation. Our $30 target is 11x our $2.82 2011 EPS (Street ~$2.22)."

To see all the upgrades/downgrades on shares of TSL, visit our Analyst Ratingspage.

Trina Solar Limited (Trina) is an integrated solar-power products manufacturer based in China with a global distribution network covering Europe, North America and Asia.