First Solar (FSLR) Shares Higher, But Might Have More Upside in Store...
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Think today's run in First Solar shares is impressive? How about the 28 percent gain since June 12th?
Well, hang in there... First Solar (Nasdaq: FSLR) might be the best opportunity out there right now in terms of solar stocks. At this time last year, shares were going for $140. Yes, triple digit share prices. (For those who owned First Solar and rode it all the way down, sold, and tried to forget about it, we're sorry to re-hash the past. We'll make it up to you, someday.)
Early Friday, LA County approved the installation of solar modules at the Solar Ranch One photovoltaic power plant currently under construction in the Antelope Valley.
In addition, Japan, still fearful of going back to nuclear power, is instilling generous subsidies to build its renewable infrastructure. The nation is currently running 90 percent off of crude, nat gas, and coal. While prices on many of those commodities might be going lower, over the long-term that is likely not to be the case. This bodes well for solar firms.
Further, China's still subsidizing installs, though at a much lower rate than Japan plans to do, and photovoltaic prices are falling as demand lags.
Should First Solar catch even a little more upside and head to levels not seen since April, there's another 40 percent to 50 percent of upside. If things get back to January levels, that'd be a 100 percent gain.
Still, Europe needs to shape up and more support needs to be behind the expansion of renewable power. Watch out if that happens.
Shares are 8.5 percent better Friday afternoon.
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Well, hang in there... First Solar (Nasdaq: FSLR) might be the best opportunity out there right now in terms of solar stocks. At this time last year, shares were going for $140. Yes, triple digit share prices. (For those who owned First Solar and rode it all the way down, sold, and tried to forget about it, we're sorry to re-hash the past. We'll make it up to you, someday.)
Early Friday, LA County approved the installation of solar modules at the Solar Ranch One photovoltaic power plant currently under construction in the Antelope Valley.
In addition, Japan, still fearful of going back to nuclear power, is instilling generous subsidies to build its renewable infrastructure. The nation is currently running 90 percent off of crude, nat gas, and coal. While prices on many of those commodities might be going lower, over the long-term that is likely not to be the case. This bodes well for solar firms.
Further, China's still subsidizing installs, though at a much lower rate than Japan plans to do, and photovoltaic prices are falling as demand lags.
Should First Solar catch even a little more upside and head to levels not seen since April, there's another 40 percent to 50 percent of upside. If things get back to January levels, that'd be a 100 percent gain.
Still, Europe needs to shape up and more support needs to be behind the expansion of renewable power. Watch out if that happens.
Shares are 8.5 percent better Friday afternoon.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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