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Fly News Breaks for July 15, 2016
TSL
Jul 15, 2016 | 08:37 EDT
Cowen analyst Jeffrey Osborne downgraded Trina Solar to Market Perform and lowered its price target to $7.50 from $11. The analyst said checks indicate US module pricing has dropped more than expected, by 5-10 cents/watt for Q4 delivery due to the fall off of demand in China and new capacity coming online outside of China. Osborne recommends staying away from module only or module only/China project firms in the near term as estimates get reset and note the problems could get worse before they get better.
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