Roth Capital Affirms First Solar (FSLR) at 'Neutral' Amid Transition, Guidance Update
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
The firm offered the overall thoughts on Thursday:
With the collapse of module pricing, FSLR was forced to make a tough decision: Cancel its Series 5 product and go straight to Series 6. Management is accelerating its Series 6 rollout, but it'll still take 1.5 years. In the meantime, Series 4 may be only marginally competitive given how low ASPs have gotten. Overall, the company ratcheted down 2017 earnings expectations. In our guidance call preview, we had talked about the 2017 buy-side EPS being closer to $1 or even sub $1 vs. sell-side consensus at $1.96 and our estimate of $1.55. Management delivered non-GAAP EPS guidance of 0-50c. Given this long period of transition, we expect to see shares tradeoff sharply as investors may not have the patience to wait for Series 6, despite its technology benefits and leadership.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- Instinet Reiterates Buy on Oracle (ORCL) Ahead of 2Q Earnings
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRoth Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!