First Solar (FSLR) PT Lowered to $48 at Baird
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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."
Shares of First Solar closed at $40.58 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Earnings, Ben Kallo
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