Goldman Sachs Lifts Price Target On First Solar (FSLR) Following Results

February 25, 2011 7:43 AM EST
Get Alerts FSLR Hot Sheet
Price: $40.68 -0.46%

Rating Summary:
    16 Buy, 25 Hold, 8 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Goldman Sachs raised their price target on Conviction Buy List-rated First Solar (NASDAQ: FSLR) from $165 to $190 following "solid" Q4 results after the close.

The firm raised their 2012 EPS by 5% to $11.50 and 2013 from by 3% to $12.50.

Similar to Q3, Goldman expects a skittish reaction in the stock short-term. "While expectations for a good print and outlook have already driven the shares up 27% ytd, we see another 15% upside." The firm cited cost reduction that are on track, an intact near-term demand environment, and a growing pipeline buffer.

For more ratings news on First Solar click here and for the rating history of First Solar click here.

Shares of First Solar closed at $164.68 yesterday.

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