Information Provided By:
Fly News Breaks for April 28, 2016
FSLR
Apr 28, 2016 | 08:28 EDT
Roth Capital analyst Philip Shen says First Solar is transitioning from a legacy, rich margin systems business to lower margin projects, while balancing capacity expansion with the risk of industry overcapacity and new product rollout. The analyst is positive on the choice of Mark Widmar as the new CEO to lead the company's transition, adding that despite potential for near-term weakness ahead for the stock, he believes in the strength of the company's technology and long-term competitive positioning. Shen reiterates a Buy rating and lowered his price target on the shares to $70 from $80.