First Solar (FSLR) is up a bit in premarket trading after it was announced last night the company would join the S&P500, replacing Wyeth. The upgrade from Janney Montgomery Scott to Buy is also helping. The firm has a price target of $185.
Hat tip to StreetInsider.com for the following analyst comment.
“We believe that First Solar’s cost leadership and deep experience will continue to differentiate the Company in the increasingly competitive photovoltaic industry. At … Read the rest
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
First Solar (FSLR) has added another 27MW to its existing contract with Juwi Solar for two US projects. They will supply 15MW for a project for the Jacksonville Electric Authority and another 12MW for American Electric Power in Ohio. Construction on these projects is expected to begin later this year and be completed by the end of 2010
“We are very encouraged that First Solar is supplying its proven and financeable modules for these initial … Read the rest
By Chris Nelder of GreenChipStocks.com
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There was a very exciting announcement in the world of energy this week, and I’ve been taking a hard look at it.
No, it wasn’t the Tiber field find by BP. Although peak oil deniers seized on the discovery as validation of their argument that technology will continue to make vast new reserves of oil accessible and solve the peak oil … Read the rest
A few months ago Soleil Securities downgraded FSLR from Buy to Hold but increased the price target a bit to $170. The firm just got a lot more bearish on the stock and is downgrading it again from Hold to Sell and slashing the price target from $170 to $96.
Hat tip to StreetInsider.com for the following analyst comment:
We believe the environment in which First Solar massively beats expectations each (and every) quarter has … Read the rest
OK, it’s not quite a done deal yet, but First Solar (FSLR) has signed a memorandum of understanding with China to build the world’s largest solar power plant in the desert of Inner Mongolia (Ordos City). The 2GW plant would be completed in phases over the next 10 years with a 30MW demo project to begin next summer, a 100MW and 870MW project to be completed by 2014 and the final 1000MW phase to be … Read the rest
I mentioned the upgrades in the post before. Now for the downgrades. Jefferies is out this morning cutting the entire sector and downgrading several solar companies due to the same concerns we’ve heard for many months… oversupply and lack of demand.
First Solar (FSLR) cut to Hold from Buy
SunPower (SPWRA) cut to Hold from Buy
Suntech Power (STP) cut to Underperform from Hold
Ascent Solar (ASTI) cut to Underperform from Hold
China Sunergy (CSUN) … Read the rest
Some positive analyst ratings are out this morning. Here’s the rundown:
Hat tip to StreetInsider.com for the analyst comments.
First Solar (FSLR) gets a Buy rating from Merriman Curhan. The firm says, “First Solar is a leading provider of thin film solar technology primarily serving the power utility market and continues to command cost leadership at $0.87/watt vs. its silicon-base solar peer group at $2.50/watt. Solar is rapidly becoming a critical alternative energy solution … Read the rest
Lieberose Solar Farm, a solar farm now being built in Germany by juwi Group and First Solar Inc, just became the second-largest solar farm in the world, as the 560,000th solar panel was placed into installation by by German Infrastructure Minister Wolfgang Tiefensee and Brandenburg Minister President Matthias Platzeck. Once it’s finished, the project, which is being built on an old Soviet Army training site in Brandenburg, Germany, will produce 52 MW of power. … Read the rest
Deutsche Bank is out this morning maintaining its Hold rating on First Solar (FSLR) but has slashed the price target from $170 to $125. The firm believes the company is fairly valued at these levels.
Hat tip to StreetInsider.com for the following analyst comments:
“Recent pricing inputs from companies like Yingi (more substantial ASP declines) and less-than-hoped-for improvement in the demand picture for larger systems (due largely to financing availability) cause us to reassess our … Read the rest