Standpoint Research Starts First Solar (FSLR) at Buy
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Price: $54.45 +8.94%
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
4 Buy, 23 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade FSLR Now!
Standpoint Research initiates coverage on First Solar (NASDAQ: FSLR) with a Buy. PT $120.
The firm comments, "FSLR shares are now 70% off the (2008) all-time high of $311, 50% off the 52-week high from February and down 35% since early July. The shares are now trading at 14X trailing twelve months earnings, < 10X estimates for 2011 and just 8X the ($10.96) estimate for 2012. Even if estimates come down by 20% the shares are still attractive. Our $120 price target would be 12X a conservative $10 EPS estimate for 2012-2013. The upside to our target is 36% and that conservative price target is looking out 12-24 months … the shares traded there (at $120) just seven weeks ago.
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 $86.08 yesterday, with a 52 week range of $82.11-$175.45.
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The firm comments, "FSLR shares are now 70% off the (2008) all-time high of $311, 50% off the 52-week high from February and down 35% since early July. The shares are now trading at 14X trailing twelve months earnings, < 10X estimates for 2011 and just 8X the ($10.96) estimate for 2012. Even if estimates come down by 20% the shares are still attractive. Our $120 price target would be 12X a conservative $10 EPS estimate for 2012-2013. The upside to our target is 36% and that conservative price target is looking out 12-24 months … the shares traded there (at $120) just seven weeks ago.
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 $86.08 yesterday, with a 52 week range of $82.11-$175.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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