First Solar (FSLR) PT Lowered to $48 at Baird

November 3, 2016 7:35 AM EDT
Get Alerts FSLR Hot Sheet
Price: $34.75 +0.96%

Rating Summary:
    12 Buy, 28 Hold, 9 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $40.58 yesterday.

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