Auriga Reiterates a 'Buy' on First Solar (FSLR); Cost Leadership Intact; Visibility on Track

Auriga reiterates a 'Buy' on First Solar (NASDAQ: FSLR) price target of $154.00.

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 current 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 (with final approvals by Sep 30, 2011); 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, and progress in Australia, China, Middle East)

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 $79.21 yesterday.

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