FBR Capital Cuts Price Target & Estimates on First Solar (FSLR)
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- First Solar Sells California Solar Power Project to NRG
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FBR Capital cuts price target on First Solar (Nasdaq: FSLR) from $110 to $90, lowers estimates as well.
FBR analyst says, "Given our belief that FSLR's 3Q report/conference call underscored all of the major concerns we have been raising for more than a year, we spent a few days reexamining our assumptions and model. We have once again reached the conclusion that the stock, following the sharp sell-off post 3Q report, may have not seen a bottom yet simply because we do not believe the true earning power of the company has been fully dialed into the stock. Yes, despite our repetitive warnings, investors were still surprised that the timing of the sale of the first phase of the Sarnia project caused the 3Q09 miss."
"Following 3Q report, we are changing our CY09 EPS estimate from $7.34 to $7.35, though the entire upside is attributed to lower taxes. We are also fine-tuning our CY10 estimate, which has been reduced from $5.00 to $4.75, versus the current consensus estimate of $7.29. Our new CY10 estimates are based on a module/system (revenue) mix of 80/20. For system biz, we are assuming 45 MW of the Ontario pipeline (PPAs), Tri State 30 MW (PPA), Sampra 48 MW (EPC), and LADWP 20 MW (EPC)...We are also using this opportunity to introduce our CY11 EPS estimate of $4.43, versus consensus of $9.04. Our CY11 estimates are based on module/system (revenue) mix of 65/35."
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Warning to Little Guys...
The wealthy is not a bit concerned about the potential of $200 or even $300 oil barrels... They can afford it and they will have the highways all to themselves... Not you little guys... anymore.. hahahahahah!~
Photovoltaic Obsolete Already?
There is a new wave of futrue solar energy prototypes.. One of them will be heliostats for home usage. They can be built with aluminium foil glued on smooth masonite boards mounted on posts to reflect sunlight back against the northern sides of houses that is always in the shadow. Heliostats are usually known as mirrors in solar industry's term, but aluminium foil is far cheaper and can be built ourselves . It works great as home heaters.
No FSLR? Then $200 Oil On the Way
I am very surprised at the analysts' way of thinking. We no longer have the luxury of limitless oil , coal, gas, hydro, nuclear, firewood consumption patterns anymore due to global climate change and toxic waste issues. I had long assumed that the solar and wind turbine industry would grow much faster by now in order to spearhead the next economic recovery. it looks more like we are quite content to play the same old broken music record all over again.. Say hello to $200, $300 oil barrels, by then we will be too broke to go back to investing in alternate energy again if ever. Instead, we will stop using our central air conditioning, clothes dryers, dishwashers, huge plasma HDTVs, jacuzzis, etc in order to combat $200 oil barrels...
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Analysts
Fed Up on Nov 2, 2009 07:11 PMThese analysts are all making money by predicting huge price jumps or sell-offs, then betting on them with shorts. I never believe anything they say, and just buy good, solid companies. Unfortunately, lots of folks panic every time one of these boneheads changes their tune, or "tweaks" their numbers. Like leading sheep to the wolves. We all need to quit reacting, and perhaps negate the importance of, these jackals.