More good news for First Solar (FSLR) tonight. In addition to posting strong guidance for next year, the company is announcing that NRG Energy (NRG) will purchase its 290MW Agua Caliente project in Yuma, Arizona. The project when completed in 2014 is expected to be the largest operating solar farm in the world and provide clean electricity to nearly 225,00 homes. It should be noted though while all permits have been received and early construction … Read the rest
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First Solar (FSLR) Posts Strong 2011 Guidance, Shares Up
The great divide between the bearish analysts who see a difficult 2011 for solar and the CEOs of these solar companies who see another good year in 2011 continues. This afternoon it was First Solar’s (FSLR) turn to bang the bullish drum and issue strong guidance for 2011. The company sees 2011 EPS in the range of $8.75 – $9.50/share which is ahead of the analysts consensus estimate of $8.60/share on revenues of $3.7 … Read the rest
First Solar (FSLR) Supplying 15MW In Solar Modules To ACME Of India
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 Maintains Big Upside Potential On First Solar (FSLR)
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.
Hedge Funds Increase Green Stocks Short Selling (TSLA, FSLR, SPWRA, AMSC, ZOLT)
Bloomberg reports that short selling in green stocks has been increasing and is nearly four times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are sold short, up from 16% last month and 15% in September. That compares with the 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) … Read the rest
Green Stocks Analyst Ratings Roundup (SQM, SPWRA, AONE, LDK, FSLR)
Here’s a run down of today’s green stocks analyst calls…
(via Benzinga) Axiom Capital pointed out an article over at the Financial Times (in German) that discussed the potential of additional solar subsidy cuts in Germany due to increasing electricity rates associated with the boom in solar installations. Nothing set in stone yet, just proposals. Solar stocks have been slammed in recent weeks and were down another 2% today (solar ETF TAN).
JP Morgan … Read the rest
Solar Supply Panic Overdone?
The number of bearish solar analysts have been growing lately with many of them concerned about supply rapidly outpacing demand for 2011, but I’d have to agree with Motley Fool that if you believe anything the CEO’s of the solar companies are saying, demand will continue to be strong. Granted, many of these solar firms are continuing to ramp capacity at an extraordinary pace, which exposes them to significant risk. I’m probably somewhere in the … Read the rest
Credit Suisse Has Solar Supply Concerns, Downgrades SOLR, TSL, SOL, FSLR, JASO, STP
According to Barron’s, Credit Suisse is out this morning downgrading several solar stocks due to concerns about oversupply and softening demand next year. Analyst Satya Kumar sees new capacity of 2GW/month this quarter with an overall increase of 50% next year while demand remains flat. As a result, pricing could decline quicker than expected.
He’s downgrading six solar stocks, all of which are under pressure today.
Outperform ==> Neutral: First Solar (FSLR), Trina Solar … Read the rest
First Solar (FSLR) Receives Initial Approval For Portion Of 2GW China Project
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 Mixed On First Solar (FSLR), Shares Testing Key Support At $140
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