Cantor Fitzgerald Upgrades First Solar (FSLR) to Buy; Raising Estimates on Stronger Pipeline

August 2, 2012 7:32 AM EDT
Get Alerts FSLR Hot Sheet
Price: $32.53 -3.36%

Rating Summary:
    12 Buy, 27 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Cantor Fitzgerald upgraded First Solar (NASDAQ: FSLR) from Hold to Buy with a price target of $23.00.

Analyst, Dale R. Pfau, said, 'We are growing more comfortable that the company can replace its project pipeline and transition to a sustainable EPC model. There may certainly be more bumps in the road, but we believe the shares are undervalued at current levels."

FY12 EPS estimate raised from $4.34 to $4.46 adnn FY13 from $2.43 to $4.56.

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $14.80 yesterday.

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