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Fly News Breaks for January 6, 2020
FSLR
Jan 6, 2020 | 13:58 EDT
First Solar's payment of $350M to settle the class action lawsuit is a large sum, but a fraction of its potential exposure given the company's $20B market-cap decline during the period outlined in the suit, Roth Capital analyst Philip Shen tells investors in a research note. The analyst views today's news as a positive, saying it largely puts the situation behind First Solar. The $350M settlement is a win for First Solar, contends Shen, who keeps a Buy rating on the shares with a $75 price target. The analyst adds that the settlement removes the inherent risks and uncertainties involved in taking a case all the way to a 10-person jury trial.
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