Jefferies Cuts Numbers on First Solar (FSLR) After Q1 Miss
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Price: $45.96 +1.37%
Rating Summary:
5 Buy, 22 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
5 Buy, 22 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade FSLR Now!
Jefferies lowers estimates and its price target on First Solar (NASDAQ: FSLR) from $26 to $21 following Q1 miss. The firm also said the 2012 guidance raise is overly aggressive.
The analyst comments, "We believe FSLR's release of a new 5 year plan lacks credibility in light of its decision to pull out of the European market which still represents the majority of demand, and no product to address the more sustainable and easy to finance rooftop residential market. We also believe the company’s 2012 EPS guidance raise is overly aggressive and maintain our negatively biased HOLD."
Q2 EPS goes up from $0.69 to $0.74, FY12 EPS goes down from $3.97 to ($1.64) and FY13 EPS goes down from $4.34 to $4.15
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 $18.07 yesterday, with a 52 week range of $17.50-$142.22.
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The analyst comments, "We believe FSLR's release of a new 5 year plan lacks credibility in light of its decision to pull out of the European market which still represents the majority of demand, and no product to address the more sustainable and easy to finance rooftop residential market. We also believe the company’s 2012 EPS guidance raise is overly aggressive and maintain our negatively biased HOLD."
Q2 EPS goes up from $0.69 to $0.74, FY12 EPS goes down from $3.97 to ($1.64) and FY13 EPS goes down from $4.34 to $4.15
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 $18.07 yesterday, with a 52 week range of $17.50-$142.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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