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Fly News Breaks for February 24, 2020
FSLR
Feb 24, 2020 | 06:15 EDT
BofA analyst Julien Dumoulin-Smith double downgraded First Solar to Underperform from Buy with a $54 price target. Following the company's "execution hurdles" in fiscal 2019, the analyst sees First Solar's lower than expected fiscal 2020 guidance and announced strategic review of the Systems business as underscoring a "materially lower profile" at the Systems unit. Further, Dumoulin-Smith's channel checks with developers point to an increasing competitive development landscape with compressed margins and reduced risk adjusted returns.
News For FSLR From the Last 2 Days
FSLR
Apr 24, 2024 | 11:02 EDT
Wells Fargo notes that a group of seven domestic solar product makers, including First Solar (FSLR), filed a petition to levy anti-dumping and countervailing duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam, looking for duties ranging from 70.4% to 271.5%. The firm, which included the "important reminder" that "this is just a petition," says the uncertainty created by the petition is "incrementally positive" for First Solar and negative for Canadian Solar (CSIQ), Array Technologies (ARRY) and Nextracker (NXT).
