This morning Broadpoint came out reiterating its Buy rating on First Solar (FSLR), but lowered the price target to $165 which is still well above the current price of $120
Hat tip to StreetInsider.com for the following analyst comment
“Following updated cost reduction guidance from poly-based module producers last week, we are reducing our FSLR 2010 estimates to better reflect a more competitive landscape in 2H10 (namely TSL projecting $0.70/w processing cost). We still view … Read the rest
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
A couple of analyst notes out this morning on Sunpower (SPWRA) according to StreetInsider.com.
Collins Stewart has initiated coverage on Sunpower with a Sell rating and a price target of $20 due to the following:
– rapid price deterioration
– trading at premium valuation relative to its peers
– production costs higher than competitors
– key financial metrics related to asset and capital efficiency below that of peers
Broadpoint downgraded to Neutral and lowered … Read the rest