Bloomberg News

Trina Solar Climbs Most in a Month as Auriga Upgrades to Buy

April 17, 2012

Trina Solar Ltd. (TSL:US) rose the most in a month in New York trading as Auriga USA raised its rating to buy from hold, saying China’s third-biggest maker of solar panels is controlling costs better than its competitors.

American depositary receipts of Changzhou, China-based Trina surged 7.3 percent to $6.87, a two-week high, at the close of trading in New York. It was the biggest intraday gain since March 20.

Trina will return to profitability (TSL:US) in the fourth quarter as the company benefits from efforts to reduce costs, Hari Chandra Polavarapu, an analyst at Auriga USA in New York, said in a phone interview. Trina will also benefit as solar makers cut production and are either merged or acquired over the next year, he added.

“In an environment of consolidation and reduced capacity, cost leaders with good balance sheets will thrive, and that’s where Trina Solar fits in,” Chandra Polavarapu said.

Tempe, Arizona-based First Solar Inc. (FSLR:US), the largest thin- film panel maker, said it will cut 30 percent of its workforce, about 2,000 jobs, and close factories in Germany and Malaysia in response to a deteriorating European market. First Solar jumped 10 percent to $22.96.

To contact the reporter on this story: Leon Lazaroff in New York llazaroff@bloomberg.net

To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net


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Companies Mentioned

  • TSL
    (Trina Solar Ltd)
    • $11.4 USD
    • 0.04
    • 0.35%
  • FSLR
    (First Solar Inc)
    • $65.53 USD
    • 1.48
    • 2.26%
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