First Solar (FSLR) Outlook Confims Profitability Coming Down - Raymond James

February 27, 2013 8:17 AM EST
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Price: $34.85 +1.25%

Rating Summary:
    12 Buy, 28 Hold, 9 Sell

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    Up: 29 | Down: 29 | New: 23
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Raymond James analyst Pavel Molchanov reiterated its Underperform rating on First Solar (NASDAQ: FSLR) following Q4 results. The analyst said guidance confirms that profitability is coming down.

"In the context of the solar "junk rally," we downgraded First Solar to Underperform on January 4 based on our view that the stock has become as much of a short as its crystalline PV competitors," Molchanov states. "While the balance sheet is healthy, and the company has stayed profitable thanks to its legacy U.S. utility-scale projects, as those gradually roll off we envision progressively lower levels of profitability."

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 $31.36 yesterday.

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