Maxim Group Lowers Price Target On Trina Solar To $22

According to Maxim Group, Trina Solar TSL price target is lowered to $22. Maxim Group said that while shipments of 396 MW (+24%) were in line, revenue of $580m trailed the Street at $599m on lower ASPs of $1.46, below peers at ~$1.59. “Maintaining Buy Rating but Lowering PT to $22, from $26.” Trina Solar closed yesterday at $14.15.