First Solar (FSLR) has needed some good news and it some today on news it would partner with SoCo Edison on projects totaling 550MW. Several hours later it also announced a deal with the Los Angeles Dept Of Water & Power to build a solar project with a capacity of 55MW in Imperial County. Construction on this project is expected to begin next year and be completed in 2011, but still needs approval from the … Read the rest
Tag Archives: fslr
First Solar (FSLR) Signs Contract With Southern California Edison
First Solar just announced that it has signed a contract with Southern California Edison regarding the construction of 2 solar power projects in Riverside and San Bernardino counties. Together, the projects will generate 550 MW of solar energy. When complete, they will produce 1.2 billion kilowatt-hours of renewable electricity each year. As long as the projects are approved by the California Public Utilities Commission, construction is set to begin on the 250 megawatt Desert Sunlight … Read the rest
Wedbush Morgan Defends First Solar Too; "Negative Barrons Article Unwarranted"
Last night I posted about Jefferies analyst Paul Clegg defending First Solar (FSLR) following the negative piece on the company in Barrons. This morning, Wedbush Morgan is out defending the company as well, assuming coverage at an Outperform with a price target of $190.
Hat tip to StreetInsider.com for the following analyst comment:
“Negative article in Barron’s is unwarranted, in our opinion. Investor concerns over the rebate program in Germany are overdone. in our opinion. … Read the rest
Jefferies Analyst Defends First Solar (FSLR) Following Negative Barrons Article
Over the weekend, Barron’s wrote up a piece on First Solar (FSLR) highlighting the company’s negative free cash flow and goes so far as to say the revenue beat was a figment of bookkeeping for a project in Berlin in which the company recognized $84 in revenue. The author also questions the OptiSolar transaction and the way the company booked the value of a PG&E contract. All in all, it didn’t help the stock much … Read the rest
Cowen On First Solar (FSLR): Buy On Weakness
I’ll start calling them common sense Cowen because they’re the only ones (along with Wedbush) able to realize that this First Solar (FSLR) sell off is overdone and the Germany concern is an overreaction. Cowen is out defending First Solar this morning saying to buy on weakness
Hat tip to StreetInsider.com for the following analyst comments:
The firm says that the plans to offer rebates as an attempt to keep projects in Germany on track … Read the rest
Analysts Mixed On First Solar (FSLR): ThinkEquity & Credit Suisse Downgrade, Wedbush Lifts Price Target
Analysts have been, for the most part, negative on First Solar this morning which is why the stock continued to slide in pre market trading. It has stabilized though and holding steady in the 155 – 157 range. I wouldn’t be surprised to see a retest of the 150 before this is all said and done, particularly if this market ever goes into a meaningful correction. That would provide another great place to add a … Read the rest
First Solar (FSLR) Reverses Sharply AH On Germany Concerns; Conference Call Highlights
That was some reversal in First Solar (FSLR) after hours! The stock ran up to over $190 following the headline results of the quarter in which the company absolutely destroyed estimates, but reversed sharply after the company revealed pricing pressure and financing constraints in Germany. Frankly, I don’t understand the magnitude of the reversal after hours with the stock now down about 4% from the close. Granted, Germany is an important market, but the company … Read the rest
First Solar (FSLR) Blows It Out, Smashes Estimates With EPS Of 2.11, UP 10% AH
Wow, what a tremendous quarter once again out of First Solar (FSLR). The company not only smashed analyst estimates of $1.63, but smashed the whisper number of $1.85 by posting an EPS of 2.11, nearly a 150% surge over the year ago quarter. Sales came in at $526 million which doubles the year ago period. More details to come within this post and a summary of the conference call tonight or in the morning.
>>> … Read the rest
PG&E (PCG) Adds Another 48MW Of Solar Power From Sempra Energy (SRE)
PG&E (PCG) will purchase another 48MW of thin film solar energy from Sempra Energy, produced at its Copper Mountain facility. Last year, PG&E purchased all 10MW of the output at the El Dorado plant from Sempra.
“This agreement represents a major step forward for Sempra Generation in the development of the largest operational photovoltaic solar power installation in North America,” said Michael W. Allman, CEO of Sempra Generation.
The 48MW of energy will come … Read the rest
First Solar (FSLR) Makes Big Push Into French Market With EDF Partnership
First Solar (FSLR) is entering the French market with a splash, announcing this morning a partnership with French utility EDF Energies Nouvelles to build France’s largest solar panel manufacturing plant with annual capacity of more than 100MW of thin film panels.
EDF will finance half of the $126 million cost of the plant in exchange for the plant’s output for the next 10 years. Now that’s what I call locking up supply! No site has … Read the rest