Collins Stewart Lowers First Solar's (FSLR) EPS Estimates And Price Target
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Collins Stewart lowered First Solar's (Nasdaq: FSLR) EPS estimates and price target. Collins Stewart lowered First Solar's price target from $300 to $210. Collions Stewart reduced First Solar's revenue and EPS assumptions, due to the declining Euro and the credit crisis potentially limiting demand for its products in the first half of 2009.
Collions Stewart said due to uncertainty with project financing, it is reducing First Solar's P/E price target from 30x to 20x. However, Collins Stewart right now is an ideal time to add First Solar to a portfolio as it is trading at its lowest P/E in its history.
First Solar is trading up just above 9% this morning.
First Solar, Inc. designs and manufactures solar modules using a thin film semiconductor technology.
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