According to StreetInsider.com, Collins Stewart is downgrading FSLR this morning to Hold from Buy. It’s basically a valuation call after a big run in the stock. They said…
“Due to the price increase seen in recent sessions, FSLR has reached a point where we find the risk/reward more balanced for investors. With yesterday’s rally, the shares are now within 16% of our $175 price target and trading at 22.5x our FY09 EPS forecast of … Read the rest
First Solar just announced that it will work with Tri-State Generation and Transmission Association to build a 30-MW solar power plant in Colfax County in northeastern New Mexico. The 5,000 solar modules will produce enough energy to power approximately 9,000 houses, and the plant is expected to be online by the end of next year. Tri-State Generation and Transmission Association has entered a 25-year purchase agreement for power to be produced at the plant, which … Read the rest
After more than 6 six years, First Solar (FSLR) has produced a total of 1GW of its thin film solar modules with 500MW of that being produced in just the past 8 months. The company announced it will soon have the capacity to produce more than 1GW every year which is the equivalent of an averaged sized nuclear plant. A remarkable achievement for a company still in its infancy but emerging as a clear leader … Read the rest
First Solar (FSLR) announced after the bell today that it will acquire all of OptiSolar’s project development business in an all stock transaction valued at approximately $400 million. The acquisition is expected to be completed in the 2nd quarter and includes:
– 550MW AC solar development project under a power purchase agreement with PG&E
– A project pipeline of an additional 1300MW AC that’s in negotiation with Western regional utilities
– Land rights of about … Read the rest
First Solar (FSLR) and GT Solar (SOLR) are what I’d call solar opposites, technically speaking. One appears headed for a retest of the lows while the other appears ready to break out and continue moving higher.
First Solar (FSLR) reported great earnings last night but it was their cautious outlook that sent the stock into the cellar today. I really thought that it would recover quickly off the morning gap down, but it just couldn’t … Read the rest
Hat tip to Street Insider for the following analyst comments on FSLR following earnings:
Citi: 09 guidance cut due primarily to decision to vendor finance a portion of 09 shipments. Citi is concerned about compressing margins and increasing inventories. Maintains Hold rating but is cutting estimates and price target goes from 170 to 160
Deutsche Bank: believes FSLR may still be best positioned solar company but is cautious due to customer, industry and macro … Read the rest
A major milestone amidst the solar doom and gloom…
Despite bleak estimates for the next few quarters, there are reasons to remain very optimistic on FSLR. The company announced it broke the $1/watt barrier today saying that it has produced a solar cell with a cost of .98/watt and expects to meet its target of producing cells with a cost of .65 – .75 watt by 2012 which would be in line with traditional energy … Read the rest
First Solar (FSLR), the best of breed thin film solar producer, smashed estimates after the bell today reporting an EPS of $1.61. That was well ahead of estimates of $1.30 and more than double over the year ago quarter. Revenues also more than doubled over the year ago quarter with the company posting 4Q revenues of $433.7. Indeed, a very impressive quarter but wall st doesn’t care about what you did lately, they care about … Read the rest
I know, I know. .another top 10 list. But this one’s a bit different. It’s called a Top 10 list but I’m only including 5 (how’s that for daring and different eh?) of the top green energy stocks based purely on technicals because I can’t find 10 with great technicals! I’ll include another 5 if this market gets going again.
Drum roll please…
Coming it at the top spot is a stock I’ve been highlighting … Read the rest
Suntech Power Holdings Co., Ltd is joining First Solar to help construct a solar power plant for the Middle East’s first sustainable city, Masdar City. The city, which is under construction in the United Arab Emirates, will be carbon neutral and generate no waste. The total size of the farm will be 10 MW, with Suntech and First Solar each contributing 5 MW.
Dr. Zhengrong Shi, Suntech’s chairman and CEO, commented on the project:
… Read the rest“Masdar