First Solar (FSLR) announced earlier today that ACME of India will purchase 15MW in thin film solar modules for a solar plant in the state of Gujarat. First Solar sees India as a potentially large solar market. Delivery is expected in March 2011.
First Solar VP TK Kallenbach commented: “We see India as a land of immense opportunity and potential. We are pleased to collaborate with a leader like ACME to contribute to the … Read the rest
Piper Jaffray reiterated its bullish stance and hefty price target on First Solar (FSLR) this morning. The firm believes FSLR will guide higher for 2011 during an investor call on December 14th and that its North American project business will shield it from Euro exposure and declines in ASP. The firm estimates revenue of $3.9 billion and EPS guidance of $9.94 which is well ahead of consensus.
According to Reuters, First Solar (FSLR) has received China’s approval to start prep work on a 30MW phase of what could be a larger 2GW project over the next decade. It’s being reported that the company will still have to submit a feasibility study.
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Shares of FSLR are currently trading down about 1% and continue to struggle after reporting earnings.… Read the rest
Analysts are weighing in on First Solar (FSLR) earnings results and it’s a bit of a mixed bag.
Deutsche Bank downgraded the stock to Hold from Buy and lowered the price target from $155 to $125. While the company notes that the quarter was strong and guidance was raised they have more concerns about 2011 with early data pointing to declining margins .
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Hapoalim … Read the rest
First Solar (FSLR) posted strong 3rd quarter results after the bell today beating analyst estimates as well as the whisper number of $2.10. The expectations are always high for FSLR and the company delivered, but apparently it’s still not enough because the stock is down 5% in after hours trading. This is likely just a sell the news scenario after a healthy run in the past few months.
Auriga is out with a research note this morning on First Solar (FSLR) calling the company an investment not a trading stock, as the timing of its project business becomes more difficult to read but brings stability to the business model.
They see upside to 2010 EPS estimates guidance up to $7.85/share. Their model assumes revenue/watt of $1.58/share for module sales and assume that 50% of EPS revenue will occur in Q3.
They believe the … Read the rest
First Solar (FSLR) is ramping capacity 500MW by building two new four line thin film solar manufacturing plants it was announced this morning. The company plans to build a plant in Vietnam and the US, both of which are expected to be completed by 2012 and create a total of 600 green jobs here in the US. The sites for the plants are still in negotiations and will be announced soon. The latest expansion plan … Read the rest
US Secretary of the Interior Ken Salazar signed off on the first solar farm on public land today, giving the green light to First Solar’s (FSLR) Silver State project. The 50MW solar farm spread over 618 acres will now go through all the red tape, but considering the Feds are behind the project, it shouldn’t take long to get all the paperwork in place. The company expects the solar plant to go live sometime next … Read the rest
Yesterday First Solar (FSLR) raised its shipment guidance for 2011 and now sees shipments increasing 380MW over previous estimates due to signed agreements with seven key customers that will primarily serve European markets.
"Our customers continue to expect robust growth in the market for solar electricity in Europe next year," said Stephan Hansen, managing director of First Solar’s European sales and customer service organization. "The additional volumes will allow First Solar to continue to scale … Read the rest
David Phillips of 10Q Detective wrote up a great piece on why First Solar (FSLR) should abandon its China strategy. The US solar behemoth made headlines a year ago when it announced it would work with the China government and local businesses to develop a massive 2GW solar farm to power up to 3 million homes.
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Phillips suggests FSLR abandon it’s strategy in China … Read the rest