Wedbush Cuts Price Target on First Solar (FSLR) to $110 Amid Earnings Sell-Off
FSLR Hot Sheet
Rating Summary:7 Buy, 21 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 22 | Down: 8 | New: 36
An analyst at Wedbush has lowered her price target on shares of First Solar (Nasdaq: FSLR) from $125 to $110 this morning. The firm maintains its Neutral rating. First Solar reported its Q4 results yesterday after the market closed. The stock is indicated about 7% lower this morning.
The firm said it is cautious on shares of First Solar "due to expected margin contraction, pricing pressure project development risks, and potential feed-in-tariff changes in 2010." The Wedbush analyst lowered her FY10 EPS estimate on First Solar from $6.28 to $6.01. The Street is looking for FY10 EPS of $6.37. She also adjusted FY11 estimates: EPS move from $6.74 to $6.30 while sales move from $3.041 billion to $3.036 billion. The Street is looking for FY11 EPS and sales of $7.67 and $3.46 billion, respectively.
Visit our Analyst Ratings page to see all the market-moving analyst comments on shares of First Solar.
First Solar, Inc. engages in the design, manufacture, and sale of solar electric power modules using a proprietary thin film semiconductor technology.
The firm said it is cautious on shares of First Solar "due to expected margin contraction, pricing pressure project development risks, and potential feed-in-tariff changes in 2010." The Wedbush analyst lowered her FY10 EPS estimate on First Solar from $6.28 to $6.01. The Street is looking for FY10 EPS of $6.37. She also adjusted FY11 estimates: EPS move from $6.74 to $6.30 while sales move from $3.041 billion to $3.036 billion. The Street is looking for FY11 EPS and sales of $7.67 and $3.46 billion, respectively.
Visit our Analyst Ratings page to see all the market-moving analyst comments on shares of First Solar.
First Solar, Inc. engages in the design, manufacture, and sale of solar electric power modules using a proprietary thin film semiconductor technology.
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