FBR Capital Markets raised their price target for Trina Solar by US$4 to $US16, commenting that the company has both reduced its costs faster than its competitors and that its name has become more recognised internationally, particularly in the U.S. market.
The company Tuesday announced that one its key solar module glass suppliers, Beijing Hua Mei Dazheng Technology Co. Ltd, has signed an investment agreement to establish a production facility adjacent to Trina Solar's manufacturing campus in Changzhou, Jiangsu province. Construction of the facility is planned to start in the second half of 2009, with production expected to begin in the first half of 2010.
This will help Trina further reduce costs in the near term and would indicate that Changzhou is on the way to becoming a hub for China's solar PV industry.
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