Trina Sell-Off Overdone, Says Raymond James

August 18, 2008 at 3:27 pm PT

Shares of solar power technology provider Trina Solar (TSL) fell as much as 5.4 percent today after the company this morning announced sales and profit that missed estimates despite a big jump in sales and profit, year-over-year. The selloff may be overdone, opined Raymond James analyst Pavel Molchanov in a chat I had with him by phone this afternoon.

Trina sales of $204.2 million nearly tripled from the prior-year period, beating the average $202.5 million estimate, while profit of 68 cents was short of an 81-cent estimate, in large part because of a $6.1 million foreign exchange loss owing to the rise in the Chinese Renminbi against the dollar.

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Tagged with: Barrons, Chinese Renminbi, dollar, frontpage, Pavel Molchanov, Raymond James, solar, Tech Trader Daily, Tiernan Ray, Trina Solar

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