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Fly News Breaks for March 2, 2020
FSLR
Mar 2, 2020 | 12:34 EDT
In a note to investors last night, GLJ Research analyst Gordon Johnson maintained a Hold rating and $40 price target on First Solar (FSLR). The analyst said the company has "failed to execute on its cost targets" over the past two years, and he believes "the time is fast approaching to begin worrying about First Solar's quickly dwindling cash balance." Johnson sees around 12% in downside through 2020, noting that based on the company's guidance, another ~$200M in free cash flow burn will happen this year.
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).
