Credit Suisse Reiterates Buy Rating On First Solar (FSLR), Lifts PT

According to Barrons, Credit Suisse is reiterating its Buy rating and lifting the price target on First Solar (FSLR) from $150 to $160 after the company received approved from LA Country yesterday to proceed on the 230MW Antelope Valley project.  The firm notes that FSLR will have at least two shovel ready projects totaling 600MW by October which will contribute to earnings next year.

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Technically, shares of FSLR have looked increasingly bullish in recent weeks following its breakout from a wedge formation.  While the stock is getting a bit overextended in the short term, any pull backs would offer a nice entry point. 

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