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Early notable gainers among liquid option names on April 2nd » 09:55
04/02/20
04/02
09:55
04/02/20
09:55
XEC

Cimarex Energy

$16.50 /

+1.445 (+9.60%)

, MUR

Murphy Oil

$5.88 /

+0.28 (+5.00%)

, EOG

EOG Resources

$37.01 /

+2.3 (+6.63%)

, DVN

Devon Energy

$7.30 /

+0.49 (+7.20%)

, FSLR

First Solar

$34.39 /

+1.08 (+3.24%)

Notable gainers among…

Notable gainers among liquid option names this morning include Cimarex Energy (XEC) $16.04 +1.04, Murphy Oil (MUR) $5.97 +0.37, EOG Resources (EOG) $36.75 +2.15, Devon Energy (DVN) $7.21 +0.42, and First Solar (FSLR) $35.32 +1.88.

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Recommendations
Goldman Sachs says First Solar better-positioned than most to weather challenges » 07:12
04/02/20
04/02
07:12
04/02/20
07:12
FSLR

First Solar

$33.31 /

-2.69 (-7.47%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Lee believes First Solar is better-positioned than most names he covers to weather the current environment, highlighting its "industry-leading" visibility into volumes, stable average selling prices, gross margin expansion potential, balance sheet strength, and options to unlock value in its systems business. He also notes that the company has among the highest net cash in his solar coverage. While Lee lowered his price target on First Solar shares to $65 from $75 based on a lower multiple and lower estimates due to expected COVID-19 impacts, he keeps a Buy rating on the shares and maintains the stock on the Conviction List.

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First Solar upgraded to Neutral from Underperform at BofA » 08:28
03/31/20
03/31
08:28
03/31/20
08:28
FSLR

First Solar

$36.01 /

+0.39 (+1.09%)

BofA analyst Julien…

BofA analyst Julien Dumoulin-Smith upgraded First Solar to Neutral from Underperform with a price target of $38, down from $54. He believes the stock is fairly valued at current valuation levels given that it is now trading at "historic low multiples" and around half of its current market cap is comprised of its net cash balance at $16 per share, the analyst tells investors. He views First Solar's utility-scale solar end-market as least impacted by the COVID-19 impact on solar demand, given its larger projects with longer construction timelines, the analyst noted.

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Recommendations
Residential power usage to rise despite overall U.S. drop, says Raymond James » 12:56
03/30/20
03/30
12:56
03/30/20
12:56
NEP

NextEra Energy Partners

$42.25 /

+2.04 (+5.07%)

, AMRC

Ameresco

$15.42 /

+0.47 (+3.14%)

, AQN

Algonquin Power

$12.23 /

-0.018 (-0.15%)

, AY

Atlantica Yield

$21.76 /

-0.24 (-1.09%)

, FSLR

First Solar

$35.62 /

+ (+0.00%)

, TPIC

TPI Composites

$13.94 /

-0.15 (-1.06%)

U.S. power usage is set…

U.S. power usage is set to drop more steeply in 2020 than in any year at least over the past two decades, Raymond James analyst Pavel Molchanov tells investors in a research note. Renewables, however, are poised to gain more share in 2020 than ever before, adds the analyst. Amid the lockdowns across the country, Molchanov models 2020 power usage to be down 7%, followed by a commensurate recovery in 2021. Residential power usage is set to increase, though, while the drop in commercial and industrial could be double-digits, says the analyst. Molchanov thinks renewables can surpass 20% of the electricity mix, while coal and gas "feel the pain of the fall-off in usage." Against this backdrop, Molchanov highlights NextEra Energy Partners (NEP), a pure-play on the theme of U.S. wind and solar penetration, as well as Ameresco (AMRC), Algonquin Power & Utilities (AQN) and Atlantica Yield (AY). The 2020 trend also carries positive read-through for technology suppliers, including First Solar (FSLR) and TPI Composites (TPIC), adds the analyst.

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Hot Stocks
First Solar says manufacturing facilities in Ohio permitted to operate » 08:45
03/26/20
03/26
08:45
03/26/20
08:45
FSLR

First Solar

$34.79 /

+1.08 (+3.20%)

First Solar provided a…

First Solar provided a manufacturing operations update in light of recent developments related to the COVID-19 pandemic. On Sunday, March 22, 2020, the State of Ohio, where First Solar's Perrysburg and Lake Township manufacturing plants are located, issued a 'Stay at Home' order, exempting, among other things, essential businesses and operations from its scope. At this time, it is First Solar's understanding that its manufacturing facilities in these locations are permitted to operate under the order. Similarly, the government of Malaysia, where the Company's Kulim manufacturing plants are located, has implemented a wide-ranging suspension of public activities. Since the implementation of this suspension and at this time, First Solar's understanding is that these measures do not impact the continuity of its manufacturing operations in the country. First Solar's manufacturing operations at its Ho Chi Minh City, Vietnam facilities are not impacted by government-mandated restrictions on movement at this time. The Company is continuing to monitor the situation at all of its facility locations. The safety of First Solar's employees is a top priority, and the Company has already implemented a wide range of measures intended to inhibit the spread of the COVID-19 virus at its global manufacturing, administrative and other sites and facilities, including those in the United States, Malaysia and Vietnam. First Solar cautions that the effects of the COVID-19 outbreak, including governmental efforts to contain the spread of the virus, are dynamic and subject to change at any time.

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Recommendations
ITC extension 'NOT' in Phase 3 coronavirus rescue package, says Roth Capital » 09:56
03/25/20
03/25
09:56
03/25/20
09:56
CSIQ

Canadian Solar

$16.13 /

+0.83 (+5.42%)

, ENPH

Enphase Energy

$37.56 /

+3.2 (+9.31%)

, FSLR

First Solar

$34.60 /

+0.89 (+2.64%)

, JKS

JinkoSolar

$17.50 /

+0.75 (+4.48%)

, NOVA

Sunnova Energy

$11.83 /

+0.985 (+9.09%)

, RUN

Sunrun

$11.79 /

+0.66 (+5.93%)

, SEDG

SolarEdge

$89.74 /

+4.3 (+5.03%)

, VSLR

Vivint Solar

$5.13 /

+0.38 (+8.00%)

Roth Capital analyst…

Roth Capital analyst Philip Shen says his checks suggest the ITC extension is "NOT in the Phase 3 bill that was agreed upon early [Wednesday]." The bill still needs to be papered, but his understanding is both the ITC and PTC extensions are out. The analyst had heard an ITC extension would have been in exchange for allowing purchases for the Strategic Petroleum Reserve. As for wind, his checks suggest the industry was looking for a deadline extension for the 100% PTC primarily. Shen adds that he has been told the timing on the Phase 4 deal may not be clear for another week, and he would not be surprised to see it pushed out now to 4-6 weeks. Publicly traded companies in the space include Canadian Solar (CSIQ), Enphase Energy (ENPH), First Solar (FSLR), JinkoSolar (JKS), Sunnova Energy (NOVA), Sunrun (RUN), SolarEdge (SEDG), Vivint Solar (VSLR)

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Conference/Events
First Solar management to meet with Roth Capital » 04:55
03/18/20
03/18
04:55
03/18/20
04:55
FSLR

First Solar

$32.26 /

+0.61 (+1.93%)

Meeting to be held in…

Meeting to be held in Tempe, AZ on March 18 hosted by Roth Capital.

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First Solar trading resumes  09:56
03/12/20
03/12
09:56
03/12/20
09:56
FSLR

First Solar

$34.73 /

-2.55 (-6.84%)

 
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First Solar trading halted, volatility trading pause  09:51
03/12/20
03/12
09:51
03/12/20
09:51
FSLR

First Solar

$34.73 /

-2.55 (-6.84%)

 
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Conference/Events
First Solar management to meet with Roth Capital » 09:19
03/12/20
03/12
09:19
03/12/20
09:19
FSLR

First Solar

$37.28 /

-3.84 (-9.34%)

Meeting to be held in…

Meeting to be held in Tempe, AZ on March 18 hosted by Roth Capital.

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