Over the weekend, Barron’s wrote up a piece on First Solar (FSLR) highlighting the company’s negative free cash flow and goes so far as to say the revenue beat was a figment of bookkeeping for a project in Berlin in which the company recognized $84 in revenue. The author also questions the OptiSolar transaction and the way the company booked the value of a PG&E contract. All in all, it didn’t help the stock much … Read the rest
Tag Archives: first solar
Cowen On First Solar (FSLR): Buy On Weakness
I’ll start calling them common sense Cowen because they’re the only ones (along with Wedbush) able to realize that this First Solar (FSLR) sell off is overdone and the Germany concern is an overreaction. Cowen is out defending First Solar this morning saying to buy on weakness
Hat tip to StreetInsider.com for the following analyst comments:
The firm says that the plans to offer rebates as an attempt to keep projects in Germany on track … Read the rest
Analysts Mixed On First Solar (FSLR): ThinkEquity & Credit Suisse Downgrade, Wedbush Lifts Price Target
Analysts have been, for the most part, negative on First Solar this morning which is why the stock continued to slide in pre market trading. It has stabilized though and holding steady in the 155 – 157 range. I wouldn’t be surprised to see a retest of the 150 before this is all said and done, particularly if this market ever goes into a meaningful correction. That would provide another great place to add a … Read the rest
First Solar (FSLR) Reverses Sharply AH On Germany Concerns; Conference Call Highlights
That was some reversal in First Solar (FSLR) after hours! The stock ran up to over $190 following the headline results of the quarter in which the company absolutely destroyed estimates, but reversed sharply after the company revealed pricing pressure and financing constraints in Germany. Frankly, I don’t understand the magnitude of the reversal after hours with the stock now down about 4% from the close. Granted, Germany is an important market, but the company … Read the rest
First Solar (FSLR) Blows It Out, Smashes Estimates With EPS Of 2.11, UP 10% AH
Wow, what a tremendous quarter once again out of First Solar (FSLR). The company not only smashed analyst estimates of $1.63, but smashed the whisper number of $1.85 by posting an EPS of 2.11, nearly a 150% surge over the year ago quarter. Sales came in at $526 million which doubles the year ago period. More details to come within this post and a summary of the conference call tonight or in the morning.
>>> … Read the rest
PG&E (PCG) Adds Another 48MW Of Solar Power From Sempra Energy (SRE)
PG&E (PCG) will purchase another 48MW of thin film solar energy from Sempra Energy, produced at its Copper Mountain facility. Last year, PG&E purchased all 10MW of the output at the El Dorado plant from Sempra.
“This agreement represents a major step forward for Sempra Generation in the development of the largest operational photovoltaic solar power installation in North America,” said Michael W. Allman, CEO of Sempra Generation.
The 48MW of energy will come … Read the rest
First Solar (FSLR) Makes Big Push Into French Market With EDF Partnership
First Solar (FSLR) is entering the French market with a splash, announcing this morning a partnership with French utility EDF Energies Nouvelles to build France’s largest solar panel manufacturing plant with annual capacity of more than 100MW of thin film panels.
EDF will finance half of the $126 million cost of the plant in exchange for the plant’s output for the next 10 years. Now that’s what I call locking up supply! No site has … Read the rest
Wedbush Morgan: Challenges Remain In Solar Market Heading Into Earnings; FSLR Should Retain Cost Leadership
Wedbush Morgan was out with an article in Barrons yesterday highlighting the challenges that remain in the solar market as solar earnings kick off next week. They believe that 2nd half estimates may be too optimistic and earnings will show the negative impact of rapidly declining average selling prices, inventory write downs and cancellations/delays of customer orders. While they generally agree that the drop in average selling prices may spur demand to a degree, the … Read the rest
Barclays Cautious On Q2 Solar Earnings; Cuts Price Targets on FSLR, ENER, STP & YGE
Solar stocks were slammed today as oil prices continued to retreat and the cautious comments out of Barclays didn’t help either. Barrons reported this morning that analyst Vishal Shah is cautious on solar heading into Q2 earnings because of the magnitude of the recent rally and the unlikelihood of US & China demand picking up the Germany slack.
He made price cuts as well:
– ENER from $13 to $17 on customer financing
– FSLR … Read the rest
JP Morgan Upgrades Evergreen Solar (ESLR), Doubles Price Target; Downgrades First Solar (FSLR)
According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share. Shares are trading up about 6% in premarket trading. First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear … Read the rest