Needham & Company Maintains a 'Hold' on First Solar (FSLR); Taking Steps to Maneuver Around the Challenging Market
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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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Needham & Company maintains a 'Hold' on First Solar (NASDAQ: FSLR).
Needham analyst says, "Yesterday FSLR held their 3Q11 earnings call, which provided operating details to accompany the press release from October 25th. FSLR announced plans to consolidate production facilities in the face of a challenging market. However, we think the 2012 operational targets look aggressive, and believe pricing pressure will continue to erode FSLR’s margins in the coming year, despite its success in the solar system business. Given ongoing weakness in the sector, we recommend investors remain defensive on the stock and therefore maintain our rating."
"We lower our 2011 EPS estimate to $6.77, but raise 2012 to $7.36 on revenue pushed out from 2011 to 2012."
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 $46.90 yesterday.
Needham analyst says, "Yesterday FSLR held their 3Q11 earnings call, which provided operating details to accompany the press release from October 25th. FSLR announced plans to consolidate production facilities in the face of a challenging market. However, we think the 2012 operational targets look aggressive, and believe pricing pressure will continue to erode FSLR’s margins in the coming year, despite its success in the solar system business. Given ongoing weakness in the sector, we recommend investors remain defensive on the stock and therefore maintain our rating."
"We lower our 2011 EPS estimate to $6.77, but raise 2012 to $7.36 on revenue pushed out from 2011 to 2012."
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 $46.90 yesterday.
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