Yessterday, Auriga downgraded shares of First Solar (FLSR) to Hold from Buy since the stock has appreciated considerably in the past few months and about reached their price target which remains at $167.
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The firm maintains a 15x multiple on shares of FSLR due to its superior business model and for comparison stake their highest ranked China solar stocks are given a 10x multiple.
Shares … Read the rest
First Solar (FSLR) bought the 15MW Amhersburg II Solar Plant from Helios Energy today, then agreed to sell it to Enbridge Inc for an undisclosed sum. FSLR will continue developing the uncompleted plant and provide EPC services as well as maintenance under a long term contract. The solar power will eventually be sold to the Ontario Power Authority under a 20 year power purchase agreement.
===> Click Here For Your FREE Daily First Solar Analysis… Read the rest
First Solar (FSLR) made a key move yesterday. Just a few days ago I posted:
“With an MOU signed for the big China Ordos project and news that AV Solar will finally get off the ground, the pieces are beginning to fall into place for FSLR. The question is will the stock follow suit? FSLR has been stuck in a base now for more than two years. The key for me is right around … Read the rest
It was announced yesterday that First Solar (FSLR) has cleared the last of the red tape needed to get the big 230MW AV Solar Ranch project in LA County off the ground. If you’re a regular reader here, you might remember that back in October there were fears that this project would be delayed until 2012 due to an appeal by Northrop Grumman which was concerned the project would disturb their secret testing facility in … Read the rest
Earlier today I posted a summary of Auriga’s bullish outlook on solar stocks for 2011. According to Barrons, Credit Suisse has also posted their outlook for solar stocks this year, but is less bullish. They have a cautious view in the near term and a Market Weight rating on the sector.
Auriga commented on the elasticity of the solar market where demand picks up as prices fall. Credit Suisse notes that this has traditionally … Read the rest
Auriga released its 2011 report on the solar industry last night and I wanted to summarize it a bit here for my readers. Auriga continues to remain generally bullish on the sector and doesn’t buy into the weakening demand + supply glut scenario that several other analysts are predicting for 2011/2012. They predict 23% growth for 2011 and highlight the elasticity of the solar market where as prices decrease demand picks up. They cite a … Read the rest
First Solar (FSLR) has announced it acquired RayTracker which makes solar tracking technology and PV balance-of-systems to improve efficiency by tracking the location of the sun. I assume this technology is similar to the ground mounted tracking technology that Sunpower uses, but would like to hear from the experts in this area! RayTracker’s team will integrate with First Solar along with their customers.
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“We expect … Read the rest
The big 2GW Ordos solar project in China is finally making some progress after quite a few delays. This morning First Solar (FSLR) and China Guangdong Nuclear Solar Energy Development signed a memorandum of understanding (MOU) to collaborate on the development of Phase 1 of the project. Under the agreement, the two companies will work together to develop the initial 30MW demonstration projects, but CGN will be the primary EPC provider while FSLR will provide … Read the rest
UBS maintains its Buy rating and increases the price target from $150 to $160. The firm increases its 2011 and 2012 EPS estimates from $8.80 and $9.50 to $9.15 and $10.00.
Needham & Company upgraded from Underperform to Hold but indicated the valuation remains rich and investors should focus on solar stocks with lower multiples such as JA Solar (JASO) or LDK Solar (LDK).
JP Morgan raised the price target from $105 to $115.
Jefferies … Read the rest
Auriga is out with some notes on First Solar (FSLR) following the company’s guidance last night. The firm notes that the company issued guidance that beat consensus estimates and the whisper numbers which should be viewed positively by the Street. Auriga continues to see FSLR as a long term investment rather than a trading vehicle and maintains its Buy rating. The price target however declines just a bit from $175 to $167 as industry … Read the rest