Kaufman Bros. Upgrades First Solar (FSLR) to Buy On Strong Outlook

April 27, 2011 7:18 AM EDT
Get Alerts FSLR Hot Sheet
Price: $34.75 +0.96%

Rating Summary:
    12 Buy, 28 Hold, 9 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Kaufman Bros. upgraded First Solar (NASDAQ: FSLR) from Hold to Buy, while maintaining a $165 price target.

The firm states, "We continue to believe that FSLR is a likely winner in the solar space as a result of being the lowest cost provider. The stock is down 25% from its peak levels since January and we would be aggressive buyers ahead of the quarterly results on May 3. The stock is now trading at roughly 14.0x our 2011 EPS estimate of $9.65, which we believe is not justified considering FSLR's strong fundamentals and proven ability to execute as well as strong earnings potential."

For more ratings news on First Solar click here and for the rating history of First Solar click here.

Shares of First Solar closed at $136.49 yesterday.

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