First Solar (FSLR) has found a buyer for its Cimarron I Solar Project out in Northern Mexico and they didn’t have to look far. It has announced this morning that Southern Company (SO) and Turner Renewable has purchased the 30MW solar plant which is expected to supply power to around 9000 homes beginning sometime this year. Turner Renewable was previously owned by Ted Turner and was purchased by First Solar in late 2007. Southern Company … Read the rest
Tag Archives: first solar
First Solar (FSLR) Sells Rest Of Desert Sunlight Solar Energy To PGE
Helping to ease the sting of a JP Morgan (JPM) downgrade, First Solar (FSLR) has found a buyer for 300MW of solar energy that will be produced from a plant its manufacturing in SoCo. Pacific Gas & Electric will purchase 300MW of the 550MW expected output of the Desert Sunlight project with Southern California Edison purchasing the rest. Both power purchase agreements are still subject to approval by the California Public Utilities Commission, but … Read the rest
JP Morgan Downgrades Solar Names (FSLR, ESLR, ENER), Sees Better Opportunity In LED, Wind Energy
JP Morgan is out with a bearish call on solars this morning downgrading First Solar (FSLR) and Energy Conversion Devices (ENER) to Underweight and initiating coverage on Evergreen Solar (ESLR) with a Neutral.
Notable calls has all the details on the call, but here are some highlights:
– JP Morgan reiterates the same old concerns of supply and margin headwinds
– they like LED and wind energy better right now
– German tariff reset will … Read the rest
Big Insider Selling At First Solar (FSLR) & Cree Inc (CREE)
First Solar (FSLR) and Cree Inc (CREE) are two stocks moving in opposite directions, but they have one thing in common – the Chairman of both companies, Michael Ahearn at FSLR and Chuck Swoboda at CREEl, have been dumping stock. According to Street Insider, Ahearn has sold off 43% of his holdings or nearly $150 million just days after the company reported earnings. A move like that doesn’t exactly exude confidence and the stock … Read the rest
ThinkEquity, Merriman Curhan Downgrade First Solar (FSLR) Following Earnings
ThinkEquity & Merriman Curhan Ford are out with downgrades of First Solar following earnings.
ThinkEquity downgrades from Buy to Hold
Merriman Curhan Ford downgrades from Buy to Neutral. “We are downgrading to Neutral given the uncertain business outlook in 2H10 despite a strong 4Q09 and management reaffirming its 2010 earnings guidance. Solar module makers are expected to face revenue and margin volatility as a result of changing conditions in overcapacity and FiT policies. (We would … Read the rest
First Solar (FSLR) Beats Lowered Expectations, Maintains Guidance But Under Pressure
First Solar (FSLR) has just reported earnings results and they are impressive at least compared to very conservative analyst estimates. The company smashed EPS estimates of 1.49/share and the whisper number of 1.42/share by posting 1.65/share, but that is a decrease from last quarter and just a hair above the year ago quarter. Revenues were more impressive at $640 million which is a nearly 50% bump from the year ago quarter and 30% higher than … Read the rest
Brigantine Advisors Upgrades First Solar (FSLR) To Buy Ahead Of Earnings
The analysts are tripping over themselves to make a call on First Solar (FSLR) ahead of earnings tonight. Add Brigantine Advisors to that list. The firm has upgraded First Solar (FSLR) to Buy and set the price target at $145 per share. Hat tip to Street Insider for the following analyst comment:
“News out of the solar sector has generally been negative over the last few months: a mostly inconclusive climate summit in Copenhagen, delays … Read the rest
Broadpoint AmTech Maintains Buy Rating On First Solar (FSLR) Ahead Of Earnings
I posted earlier about FBR Research and Piper Jaffray maintaining their ratings on First Solar (FSLR) ahead of earnings and Broadpoint is chiming in with a maintain as well. They have a Buy rating and $165 price target on FSLR and are holding to it through earnings on Thursday. Hat tip to Street Insider for the following analyst comment:
“FSLR is scheduled to report 4Q09 results on Thursday, after the market close. We anticipate healthy … Read the rest
Piper Jaffray Reiterates Overweight On First Solar (FSLR) Ahead Of Earnings
Yesterday FBR Research reiterated its Underperform rating on First Solar (FSLR) and this morning Piper Jaffray is holding firm with its own rating of Outperform. The firm has a $127 price target. Hat tip to Street Insider for the following analyst comment:
“Based on strong sector fundamentals, and channel checks with customers, we anticipate an in-line to better 4Q09 given sector strength and sold out conditions. We anticipate reiterated and unchanged 2010 guidance noting FSLR … Read the rest
FBR Research Maintains Underperform On First Solar (FSLR) Heading Into Earnings
Earlier today FBR Research came out with an update on its rating of First Solar (FSLR) and the firm isn’t budging. It maintains an Underperform rating and a $100 price target heading into earnings on Thursday.
Hat tip to Street Insider for the following analyst comments:
“We expect First Solar to meet or exceed our in-line with consensus estimates for 4Q09 when it reports on Thursday after the close. Due to demand pull-in in Germany … Read the rest