First Solar (FSLR) Run-Up 'Overdone' - Jefferies

April 10, 2013 6:59 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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Analysts at Jefferies weighed in on First Solar (NASDAQ: FSLR) follow yesterday's 45% surge higher following upside guidance, accelerated cost roadmap and the acquisition of a high eff silicon solution. The firm said the run-up appears overdone.

"While we remain bullish about the company's LT positioning, the guidance increase is largely a revenue pull-in from 2015 on a change in accounting," analyst Scott Reynolds said. "We continue to see FSLR as the best house in a bad neighborhood however we don't believe the outlook has radically changed to prompt the move."

The firm maintained a Hold rating and $30 price target.

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 $39.35 yesterday.

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