Wedbush Morgan was out with an article in Barrons yesterday highlighting the challenges that remain in the solar market as solar earnings kick off next week. They believe that 2nd half estimates may be too optimistic and earnings will show the negative impact of rapidly declining average selling prices, inventory write downs and cancellations/delays of customer orders. While they generally agree that the drop in average selling prices may spur demand to a degree, the … Read the rest
Tag Archives: fslr
Barclays Cautious On Q2 Solar Earnings; Cuts Price Targets on FSLR, ENER, STP & YGE
Solar stocks were slammed today as oil prices continued to retreat and the cautious comments out of Barclays didn’t help either. Barrons reported this morning that analyst Vishal Shah is cautious on solar heading into Q2 earnings because of the magnitude of the recent rally and the unlikelihood of US & China demand picking up the Germany slack.
He made price cuts as well:
– ENER from $13 to $17 on customer financing
– FSLR … Read the rest
JP Morgan Upgrades Evergreen Solar (ESLR), Doubles Price Target; Downgrades First Solar (FSLR)
According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share. Shares are trading up about 6% in premarket trading. First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear … Read the rest
Barrons: First Solar’s (FSLR) Largest Customer (Phoenix Solar) Warns, Stock Plunges Further And Headed to 150
According to Barron’s, First Solar’s (FSLR) largest customer Phoenix Solar (according to Hapoalim Securities analyst Gordon Johnson), has issued a warning, saying not to rely on previous earnings estimates due to a continued decline in pricing for solar modules, customer buying resistance and increased devaluation requirement for current inventories. The company will only issue guidance once prices have stabilized but they do expect positive EBIT for the year.
Based on this, Gordon Johnson issued a … Read the rest
Deutsche Bank Sees First Solar (FSLR) As Leader, But LowersPrice Target After Analyst Day
Correction: Deutsche Bank raised the target from $167 to $170
First Solar (FSLR) held its analyst day yesterday in Vegas, reiterating near term challenges but optimistic about the future. Deutsche Bank is weighing in with its own comments saying the company is entering a transitional period as it looks to open new markets. It believes the company is uniquely positioned as one of a few solar companies that can grow the solar PV market beyond … Read the rest
First Solar (FSLR) Expects Costs To Decline By One Third Over Next 5 Years
First Solar just announced that it expects to slash its manufacturing costs by a third over the next 5 years. The company expects to cut costs from 92 cents per watt to between 52 and 62 cents per watt. First Solar expects to achieve its cost per watt goals by improving the conversion efficiency of its cadmium telluride panels to somewhere between 16 and 18 percent.
In an article posted on Reuters, First Solar … Read the rest
First Solar (FSLR) Signs Supply Agreement With Lend Lease
First Solar and Lend Lease just announced that they have signed a new supply agreement. Under the contract, first Solar will supply Lend Lease with 10 MW worth of solar panels, starting right away. Lend Lease will use these panels in the construction of homes in Australia.
In a press release, executives from both companies commented on the deal:
“We are pleased to be working with First Solar, one of the leading solar companies, … Read the rest
First Solar (FSLR): Soleil Downgrade, Broadpoint Raises Price Target To $250
A tale of two analyst comments today on First Solar (FSLR) with Soleil Securities downgrading the stock and Broadpoint Amtech maintaining its Buy rating and raising the price target to $250 based on the potential for several catalysts.
Hat tip to StreetInsider for the following analyst notes:
The catalysts highlighted include:
The 2009 Analyst Day: FSLR is scheduled to host an Analyst Day on June 24 in Las Vegas where we expect management to highlight … Read the rest
First Solar (FSLR) In Multi Year Deal With Pfalzsolar
Financial and term details aren’t available yet, but First Solar (FSLR) has announced this morning a multi year supply deal with German solar project developer Pfalzsolar.
“We are pleased to have gained Pfalzsolar as an additional customer in a key market at a key period for the evolution of solar electricity in Europe,” added John Carrington, executive vice president, global marketing & business development.
First Solar came under significant selling pressure a few days ago … Read the rest
FBR Capital Downgrades First Solar (FSLR)
All that insider selling in recent days hasn’t done much to sink First Solar (FSLR), but it’s taking a small hit on an FBR Capital downgrade this morning, off about 4%. The company is being downgraded from Market Perform to Under Perform with a price target of $100.
Here are the FBR Capital comments according to StreetInsider.com:
Polysilicon prices taking a nose dive. Checks over the past week suggest (quality) spot poly prices have … Read the rest