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
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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
First Solar (FSLR) Acquires Edison Mission Solar Project Pipeline
First Solar just announced that they have acquired some of Edison Mission Group’s planned solar power projects. According to Reuters, the projects, which are located in the Southwest and California, range from 20MW to 150MW, and are located on private land.The companies are keeping the financial details of the acquisition private, and utilities have not yet signed agreements to purchase the power that will be produced by the projects. This acquisition has been in the … Read the rest
First Solar (FSLR), EDF In Talks With Blanquefort, France Regarding New Solar Manufacturing Plant
First Solar and EDF Energies Nouvelles just announced that they are in the end stages of talks with the French town of Blanquefort regarding the construction of a new solar panel manufacturing facility. The two companies plan to finance the plant together, then First Solar will manage the plant operations and sell the solar panels produced to EDF for 10 years. When it’s finished in 2012, the plant will produce more than 100 MW worth … Read the rest
California Approves Deal Between P G & E (PCG) First Solar (FSLR) And Sempra Energy (SRE)
California regulators have given the go-ahead for a deal that will allow P G & E to buy power from the 48 MW solar power project that First Solar and Sempra Energy are building together near Boulder City, Nevada. Now that everything has been approved, construction should start next month and the facility should be completed late next year. It will be an add-on to a 10 MW plant previously built by First Solar and … Read the rest
Analysts React To First Solar (FSLR) Guidance: Most Cautious, But Hold Ratings
The StreetInsider.com has a great run down of analyst reactions to First Solar’s (FSLR) guidance last night. The company guided higher and announced significant expansion plans over the next two years. The following is reprinted with permission.
Piper Jaffray: “While strong 2010 top-line guidance and newly announced capacity expansion are positives, a substantially higher mix of lower margin systems business is expected to prevent both margin and EPS expansion in 2010. FSLR remains the … Read the rest
First Solar (FSLR) Guides 2010 Revenues Above Street, Capacity To Expand 50%
After the bell today First Solar (FSLR) issued guidance for next year with revenues expected to come in between $2.7 – $2.9 billion and EPS between $6.05 – $6.85/share. The Street was expecting $2.4 billion in revenues and a $6.55/share EPS, so about in line on the EPS side but more optimistic on the revenue side. The company plans to invest $365 million in two production plants in Malaysia (again, so much for green energy … Read the rest