Soleil Securities Upgrades First Solar (FSLR) to Buy, Lowers Price Target
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Soleil Securities upgrades First Solar, Inc. (Nasdaq: FSLR) from Hold to Buy. Price target dropped from $250 to $160.
Soleil analyst says, "Upgrade to Buy from Hold on price basis with the stock having traded down 55% since the end of August vs. a 27% decline in the S&P 500...Raising '08E to $4.00 from $3.50, '09E to $8.10 from $5.55 primarily due to a lower tax rate, and introducing '10E$10.27...We believe FSLR will continue to generate strongearnings growth through a difficult period for the PV industry as its new manufacturing complex in Malaysia ramps to full production."
First Solar, Inc. designs and manufactures solar modules using a thin film semiconductor technology.
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