S&P Capital IQ Equity Research Analyst Angelo Zino says Trina Solar Limited (TSL) is his top China stock pick for 2014. His positive view of the stock is in part the result of higher demand for solar in Asia Pacific, of which Zino believes Trina Solar will be a primary beneficiary because the governments in that area prefer to support local sustainable players.
“But really what’s going to drive Trina Solar in 2014 is how well they do in transitioning into the higher-margin project development business,” Zino says. “Recently, Trina Solar announced a one-gigawatt project where 300 megawatts of that is going to get completed in 2014. Our understanding is that this is one of the largest projects that has ever been announced in China.”
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Zino describes Trina Solar as “best of breed” in China. He says Trina is on pace to continue to win large projects in China and other Asia Pacific countries.
“So that’s the name you want to invest in if you believe in the Asia Pacific solar story,” Zino says. “Our view is the expectations for that stock remain too low for 2014 and 2015, and we would expect it to outgrow the industry.”
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