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Fly News Breaks for June 3, 2016
JASO, TSL
Jun 3, 2016 | 08:25 EDT
As previously reported, Roth Capital analyst Philip Shen downgraded Trina Solar (TSL) to Neutral from Buy citing the threat of overcapacity in Q3 as demand in China weakens. While Shen believes Trina Solar may be somewhat buffered due to the company's U.S. market exposure, he expects ASP declines in the second half of 2016 to accelerate beyond what is priced into expectations. The analyst lowered his price target on Trina Solar's shares to $8 from $12. This morning, Shen also downgraded JA Solar (JASO) to Neutral.
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