Trina Solar (TSL) announced today that it secured three solar deals in Germany during the first quarter to ship 42 MW of modules.
Trina’s stock is trading at a high price, still buoyed by a 40% price spike from a month ago when China announced solar subsidies. It’s unclear how helpful those subsidies will really be, and with almost every solar industry observer negative for 2009, this company’s stock price seems over priced. FBR has a price target of $8.
The company shipped 201 MW in 2008, with 29.94 MW shipped in Q108. It didn’t say when the company will ship these 42 MW of modules. We’ve put in a call to investor relations to find out what quarter they book revenue on them for, and will update if we hear anything.
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