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Credit Suisse Gives Three Reasons For Upside Potential For (FSLR)

Posted by Munish | # |
02:48:49 am on July 15, 2008

Production, Forex, and Efficiency To Drive Q2 Upside (FSLR).  As investors gear up for First Solar’s (FSLR) end of July Q2 earnings, Credit Suisse has three reasons to believe that their $330.0 million target is within reach.  Following are the reasons

• We suspect Malaysia-1 plant is ramping ahead of plan, and could drive Jun EPS to higher end of 60-65c, above consensus at $217m and $0.58, our print estimates are at $201mm and 56c

• We suspect there can be 10MW+ upside to our ~82MW production estimate in 2Q08

• Euro appreciated ~4.2% q/q, which could drive 5c+ upside to our $2.45 ASP (flat q/q).

Credit Suisse reiterates OUTPERFORM on First Solar (FSLR), target price $330

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Tags: first solar, fslr

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