According to Barron’s, First Solar’s (FSLR) largest customer Phoenix Solar (according to Hapoalim Securities analyst Gordon Johnson), has issued a warning, saying not to rely on previous earnings estimates due to a continued decline in pricing for solar modules, customer buying resistance and increased devaluation requirement for current inventories. The company will only issue guidance once prices have stabilized but they do expect positive EBIT for the year.
Correction: Deutsche Bank raised the target from $167 to $170
First Solar (FSLR) held its analyst day yesterday in Vegas, reiterating near term challenges but optimistic about the future. Deutsche Bank is weighing in with its own comments saying the company is entering a transitional period as it looks to open new markets. It believes the company is uniquely positioned as one of a few solar companies that can grow the solar PV market beyond … Read the rest
First Solar just announced that it expects to slash its manufacturing costs by a third over the next 5 years. The company expects to cut costs from 92 cents per watt to between 52 and 62 cents per watt. First Solar expects to achieve its cost per watt goals by improving the conversion efficiency of its cadmium telluride panels to somewhere between 16 and 18 percent.
First Solar and Lend Lease just announced that they have signed a new supply agreement. Under the contract, first Solar will supply Lend Lease with 10 MW worth of solar panels, starting right away. Lend Lease will use these panels in the construction of homes in Australia.
In a press release, executives from both companies commented on the deal:
“We are pleased to be working with First Solar, one of the leading solar companies, … Read the rest
A tale of two analyst comments today on First Solar (FSLR) with Soleil Securities downgrading the stock and Broadpoint Amtech maintaining its Buy rating and raising the price target to $250 based on the potential for several catalysts.
Hat tip to StreetInsider for the following analyst notes:
The catalysts highlighted include:
The 2009 Analyst Day: FSLR is scheduled to host an Analyst Day on June 24 in Las Vegas where we expect management to highlight … Read the rest
“We are pleased to have gained Pfalzsolar as an additional customer in a key market at a key period for the evolution of solar electricity in Europe,” added John Carrington, executive vice president, global marketing & business development.
First Solar came under significant selling pressure a few days ago … Read the rest
All that insider selling in recent days hasn’t done much to sink First Solar (FSLR), but it’s taking a small hit on an FBR Capital downgrade this morning, off about 4%. The company is being downgraded from Market Perform to Under Perform with a price target of $100.
COLEXON Energy selected First Solar’s solar panels for its new installation in Tempe, Arizona. The installation will provide 108 kWp of power to Arizona State University. In a posting on PV-Tech.org, COLEXON’s CEO commented on the project and the company’s partnership with First Solar:
“With this project we gain a foothold in an important market, commented Thorsten Preugschas,” CEO of COLEXON Energy AG. “After our successful market entry in the USA, we are planning further … Read the rest
First Solar just announced that will collaborate with National Bank of Arizona and SolarCity to build a 22 KW commercial solar installation in Phoenix, Arizona. The installation will be the second-largest in Phoenix and the first to use First Solar’s products. The installation will power National Bank of Arizona headquarters, placing 2,960 First Solar advanced thin-film modules on top if the carports that line the bank’s parking lot.
Why did National Bank choose First Solar? … Read the rest
Advanced Battery (ABAT) has seen strong technical action in recent days rising above the 200 day moving average. No doubt all the buying from the CEO has something to do with it. Is big news around the corner? CEO Fu Zhiquo purchased 1,000,000 shares on May 4th at $2.65/share. With shares currently nearly 3.50, not a bad return in a few days! So the company reports earnings on May 11th and the CEO buys $2.5 … Read the rest
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