Higher Price Target On Trina Solar Ltd.

Jefferies & Company is raising its price target on Trina Solar Ltd. (NYSE: TSL) from $38.00 to $42.00 a share.

In its research report, Jefferies & Company writes, "We believe TSL will have higher than previously expected ASPs through 2011. We adjust our model based on data points from our meetings in Europe and Asia in the last few weeks."

"We adjust our model based on our data points from conversations with the solar supply chain throughout Europe and Asia. As a result we raise our 2011 revenue and EPS on stronger ASPs. Our MW shipments assumptions are unchanged, as we believe the company will remain capacity constrained."

TSL shares closed yesterday at $28.88