Collins Stewart Raises Targets and Estimates On $CSIQ and $TSL

According to,Collins Stewart is out this morning joining the solar bull parade andraising the targets and estimates for both Canadian Solar (CSIQ) andTrina Solar (TSL).

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.

Collins Stewart Raises Targets & Estimates On CSIQ, TSL