Auriga Reiterates a 'Buy' on First Solar (FSLR); We Just Said Good Buy; So Why Did Jens Say Good Bye?
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Price: $217.85 -3.42%
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Auriga reiterates a 'Buy' on First Solar (NASDAQ: FSLR), lowers price target from $168 to $154.
Auriga analyst says, "We note that while First Solar has a deep bench of executives to tap, the rapid departure/ transition of key members of senior management team is a matter of concern, more so for a company known for its consistency and operational excellence. As a counterpoint we also note that most solar PV companies have also seen rapid fire changes in the senior executive ranks in recent months amid business model transition/intense price competition."
"Given its operational excellence, we reiterate our rating on First Solar stock. However, we are reducing our price target to $154 earlier as a function of lowering the earnings multiple to 14.5x vs. 16x earlier in keeping with our concern about key executive departures."
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 $104.46 yesterday.
Auriga analyst says, "We note that while First Solar has a deep bench of executives to tap, the rapid departure/ transition of key members of senior management team is a matter of concern, more so for a company known for its consistency and operational excellence. As a counterpoint we also note that most solar PV companies have also seen rapid fire changes in the senior executive ranks in recent months amid business model transition/intense price competition."
"Given its operational excellence, we reiterate our rating on First Solar stock. However, we are reducing our price target to $154 earlier as a function of lowering the earnings multiple to 14.5x vs. 16x earlier in keeping with our concern about key executive departures."
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 $104.46 yesterday.
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