Standpoint Research Starts First Solar (FSLR) at Buy
Get Alerts FSLR Hot Sheet
Price: $179.91 +2.06%
Rating Summary:
33 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
33 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Join SI Premium – FREE
Standpoint Research initiates coverage on First Solar (NASDAQ: FSLR) with a Buy. PT $120.
The firm comments, "FSLR shares are now 70% off the (2008) all-time high of $311, 50% off the 52-week high from February and down 35% since early July. The shares are now trading at 14X trailing twelve months earnings, < 10X estimates for 2011 and just 8X the ($10.96) estimate for 2012. Even if estimates come down by 20% the shares are still attractive. Our $120 price target would be 12X a conservative $10 EPS estimate for 2012-2013. The upside to our target is 36% and that conservative price target is looking out 12-24 months … the shares traded there (at $120) just seven weeks ago.
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 $86.08 yesterday.
The firm comments, "FSLR shares are now 70% off the (2008) all-time high of $311, 50% off the 52-week high from February and down 35% since early July. The shares are now trading at 14X trailing twelve months earnings, < 10X estimates for 2011 and just 8X the ($10.96) estimate for 2012. Even if estimates come down by 20% the shares are still attractive. Our $120 price target would be 12X a conservative $10 EPS estimate for 2012-2013. The upside to our target is 36% and that conservative price target is looking out 12-24 months … the shares traded there (at $120) just seven weeks ago.
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 $86.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Evercore ISI Upgrades First Solar (FSLR) to Outperform
- SunPower (SPWR) discloses plans to restate some earnings
- W.R. Berkley (WRB) Tops Q1 EPS by 13c
Create E-mail Alert Related Categories
New CoverageRelated Entities
Standpoint Research, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!