Auriga Maintains a 'Buy' on First Solar (FSLR); A-OK at the DOE
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Price: $225.56 +0.84%
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Buy' on First Solar (NASDAQ: FSLR), PT $160.
Auriga analyst says, "We believe First Solar has been positively notified by the Department of Energy (DOE) that three of its largest projects are moving through the final steps necessary to complete a Section 1705 loan guarantee by the September 30, 2011 expiration date. Specifically, we believe First Solar's 550MWac Topaz, 550MWac Sunlight, and 230MWac AV Solar Ranch One projects were all given positive letters issued by Jonathan Silver, Executive Director of the DOE Loan Programs Office. In all, we believe that nine (9) letters of affirmation were issued, of which First Solar received three (3), while all other applications in process for Section 1705 loan guarantees were issued letters that placed the respective projects on hold. These letters are a positive development for First Solar as it reaffirms that the company's largest projects remain on track for the requested government funding. In addition, we believe investors may have been misinformed by recent sellside reports that drew negative conclusions from the actions at the DOE by not properly identifying the affected projects."
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 $124.30 yesterday.
Auriga analyst says, "We believe First Solar has been positively notified by the Department of Energy (DOE) that three of its largest projects are moving through the final steps necessary to complete a Section 1705 loan guarantee by the September 30, 2011 expiration date. Specifically, we believe First Solar's 550MWac Topaz, 550MWac Sunlight, and 230MWac AV Solar Ranch One projects were all given positive letters issued by Jonathan Silver, Executive Director of the DOE Loan Programs Office. In all, we believe that nine (9) letters of affirmation were issued, of which First Solar received three (3), while all other applications in process for Section 1705 loan guarantees were issued letters that placed the respective projects on hold. These letters are a positive development for First Solar as it reaffirms that the company's largest projects remain on track for the requested government funding. In addition, we believe investors may have been misinformed by recent sellside reports that drew negative conclusions from the actions at the DOE by not properly identifying the affected projects."
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 $124.30 yesterday.
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