Needham & Company on First Solar (FSLR): Strong Q2, But Unsubsidized Utility Market Remain Challenging
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Price: $51.58 --0%
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
Trade FSLR Now!
Needham & Company maintains a 'Hold' on First Solar (NASDAQ: FSLR).
Analyst, Y. Edwin Mok, said, "FSLR reported better than expected 2Q12 results and raised 2012 full year guidance based on increased number and size of solar projects. The report confirmed FSLR’s strength in developing and executing large, utility-scale solar projects. On the other hand, we believe the 3rd party module business remains challenging due to low prices of competitive c-Si modules. While the strong report is likely to drive share price higher in the near-term, we continue to believe FSLR’s transition to the unsubsidized utility market will result in lower margins and less earnings power, despite its success in solar system business."
FY12 EPS estimate raised from $4.02 to $4.48 and FY13 from $2.88 to $2.92.
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 $14.80 yesterday, with a 52 week range of $11.43-$117.93.
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Analyst, Y. Edwin Mok, said, "FSLR reported better than expected 2Q12 results and raised 2012 full year guidance based on increased number and size of solar projects. The report confirmed FSLR’s strength in developing and executing large, utility-scale solar projects. On the other hand, we believe the 3rd party module business remains challenging due to low prices of competitive c-Si modules. While the strong report is likely to drive share price higher in the near-term, we continue to believe FSLR’s transition to the unsubsidized utility market will result in lower margins and less earnings power, despite its success in solar system business."
FY12 EPS estimate raised from $4.02 to $4.48 and FY13 from $2.88 to $2.92.
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 $14.80 yesterday, with a 52 week range of $11.43-$117.93.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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