First Solar (FSLR) PT Lowered to $48 at Baird
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Baird analyst Ben Kallo lowered his price target on First Solar (NASDAQ: FSLR) to $48.00 (from $58.00) while maintaining an Outperform rating.
Kallo commented, "Q3 results exceeded our estimates with strong gross margin. Bookings remain a focus of the company and, despite continued market headwinds, FSLR is targeting a book to bill ratio of 1:1 for 2016. Importantly, FSLR will provide 2017 guidance on November 16, and we believe 2017 will be a trough earnings year as market oversupply drives further industry consolidation. That said, we would be buyers on weakness as FSLR remains well positioned for long-term growth."
Shares of First Solar closed at $40.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
- UPDATE: Oppenheimer Starts Shopify (SHOP) at Perform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Earnings, Ben Kallo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!