They reiterate the Buy rating on Canadian Solar and padded the pricetarget to $40 from $26. The firm cites “slightly higher volumes and ahigher average selling price in Q210.” Raised Q2 ASP assumption from$1.70/w to $1.80/w and its CY10 shipment forecast from 585MW to 610MW.The CY10 EPS estimate moves from $2.00 to $2.50. The firm alsointroduced CY11 EPS estimate of $2.70.
They also reiterate the Buy rating on Trina Solar and raise theprice target from $56 to $75. The firm cites “higher module priceassumption for Q2? and believes that 2010 will be a “front-loaded yearfor TSL’s earnings.” The firm raised its CY11 EPS estimate from $4.70to $5.00.
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