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Fly News Breaks for February 22, 2017
FSLR
Feb 22, 2017 | 07:45 EDT
As previously reported, Credit Suisse analyst Andrew Hughes downgraded First Solar to Underperform from Neutral, saying project timing poses risk to 2017 estimates, 2018's book of business seems unlikely to support 3x earnings growth, and valuation on a normalized earnings trajectory does not appear compelling following the stock's recent strong run. The analyst also lowered his price target on the shares to $29 from $30.
News For FSLR From the Last 2 Days
FSLR
Apr 19, 2024 | 05:32 EDT
Wells Fargo upgraded First Solar to Overweight from Equal Weight with a price target of $250, up from $187. The firm says that as the solar sector continues to struggle due to several headwinds, it is getting more defensive with its ratings. Wells upgrade First Solar due to its relative stability and several potential catalysts. The firm downgraded Sunnova Energy (NOVA) as interest rates may stay higher for longer. First Solar is sold out through 2026, which provides near-term earnings stability, the analyst tells investors in a research note. The firm also sees a number of potential catalysts on the horizon from the lifting of bifacial exemptions, further trade barriers on Chinese panels, restricting Inflation Reduction Act credits and a potential Trump presidency.
FSLR
Apr 17, 2024 | 15:16 EDT
After Reuters reported that a request to remove the bifacial panel exemption in the Section 201 tariff is expected to be granted by the Biden Administration, RBC Capital said that, if granted, the removal of the bifacial panel exemption would be a positive development for First Solar and solar OEMs with domestic manufacturing. The firm, which believes the removal of the exemption would be supportive of demand for domestic manufactured products and supportive of pricing, has an Outperform rating and $195 price target on First Solar shares.