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UPDATE: Citigroup Initiates Trina Solar at Neutral on Structural Industry Headwinds

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Trina Solar Downgraded By Roth Capital On China Concerns
Benzinga's Top Downgrades

Citigroup initiated Trina Solar (NYSE: TSL) with a Neutral rating and a $5.00 price target.

Citigroup said, "As one of the higher quality panel manufacturer in China, TSL is greatly leveraged to a recovery as the sector works off excess inventory over the next few years. That said, the industry is not only going through a cyclical trough but structural headwinds as well – mainly the commoditization of the modules business. Hence, our favorable stance towards more downstream players versus upstream manufacturers. We remain on the sidelines on challenging industry fundamentals."

Trina Solar closed at $5.32 on Tuesday.

Latest Ratings for TSL

DateFirmActionFromTo
Jun 2016Roth CapitalDowngradesBuyNeutral
May 2016Deutsche BankDowngradesBuyHold
May 2016Credit SuisseMaintainsNeutral

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Posted-In: CitigroupAnalyst Color Initiation Analyst Ratings

 

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