Solar Stocks Soar On First Solar (FSLR) Guidance
It’s been a volatile few months for solar stocks which saw a big surge off the bottom late last year only to retest those lows recently. Â Today, solar stocks get a spark in positive guidance from First Solar (FSLR) which posted much better than expected guidance, but it remains to be seen if they catch fire again. Â It’s too soon to begin calling another bottom in solar stocks, but today’s buy interest/short squeeze definitely means you should put solar stocks back on the radar for a potential trade in the coming days and weeks.
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Here are highlights from the guidance:
2013:
Sales 3.8 – 4 B
EPS of 4 – 4.50
Module Shipments 1.6GW – 1.8GW
Analysts see FY13 sales of $3.15 billion and EPS of $3.46.
2014:
Sales 3.5 – 4 B
EPS 2.5 – 4
Shipments 1.8 – 2.2 GW
2015:
Sales 4.2 – 4.8 B
EPS 4 – 6
Shipments 2.3 – 2.7 GW
Shares of First Solar (FSLR) were up nearly 50% earlier today.  It has come off the highs just a bit, but is still trading at a new 52 WK high with very heavy volume.  Suntech Power (STP) is also up big at 33% and most of the other solar stocks are up anywhere from 10 – 20% today.  The Guggenheim Solar ETF (TAN) is up 15% and breaking out of  a downtrend.  In my opinion, if these solar stocks retrace the majority of this today’s move, that would setup a real nice, lower risk entry point.
=== >Â Click Here For Your FREE First Solar Analysis
Tags: first solar, fslr
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