Deutsche Bank Reiterates Hold, $6 PT on Trina Solar

Deutsche Bank maintains its Hold rating and $6 price target on Trina Solar

as expected Big Q1 beat is likely already priced into shares. Deutsche Bank says, "Investor expectations are high, solar stocks are largely pricing this upside, in our view, and we see the recent rally fading as investor focus shifts from near term strength in fundamentals to sustainability beyond 1Q especially in light of likely negative German policy announcement. Considering the fact that the US and Germany could account for ~75% of Q4/Q1 shipments and investors are likely to remain skeptical about sustainability of these two markets beyond 1Q. We believe risk-reward is balanced given the potential for near term strength in fundamentals offset by increasing risks to 2Q shipments/margin outlook." TSU closed at $10.33 a share on Tuesday.