Auriga Reiterates a 'Buy' on First Solar (FSLR); Accumulate Stock Aggressively on Weakness

Auriga reiterates a 'Buy' on First Solar (NASDAQ: FSLR) price target raised from $157 to $168.

Auriga analyst says, "We recommend First Solar as a strategic long term investment in the solar PV space and suggest that investors buy the stock aggressively on price weakness . First Solar is solidly positioned for sustained growth backed further by stability and visibility with 1.6GW (AC) out of its 2.6GW (AC) contracted solar power project pipeline in North America under conditional DoE loan guarantees ; a cost path to drive down LCoE to $0.10 to $0.12/kWh by 2014 ; a road map towards high efficiency (~17.3%) cells ; and momentum in geographic diversification (U.S, India, France). Further, the company's low cost manufacturing excellence, business model flexibility in modules/power projects, consistent operational track record, a sound balance sheet, and a deep bench of managerial expertise give it an unrivaled competitive advantage in an industry in transition amidst intense pricing pressure."

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 $107.94 yesterday.

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