First Solar (FSLR) Shares Down 50% Since Aug.; Analyst Sees Bid from GE (GE) 'More Feasible'
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Price: $214.28 +0.10%
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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With shares of First Solar (Nasdaq: FSLR) trading at levels not seen since early 2007, Maxim's Aaron Chew believes a strategic offer from GE (NYSE: GE) may now be "more feasible."
In a research note from earlier, Chew suggested GE could offer up to $5-$6 billion for First Solar -- what would still be a decent 25-40 percent premium from First Solar's current stock price around $45. Moreover, the Maxim analyst feels execs at First Solar may now be a more willing seller following a tumultuous 2011.
Chew does offer a warning however: despite improved M&A chances, he does not see the deal likely, pointing out that rumors of a GE/First Solar deal have been making the rounds for years.
Amid a 1.5 percent decline in the TAN ETF (NYSE: TAN) this afternoon, First Solar shares are up nearly 1 percent at last check.
In a research note from earlier, Chew suggested GE could offer up to $5-$6 billion for First Solar -- what would still be a decent 25-40 percent premium from First Solar's current stock price around $45. Moreover, the Maxim analyst feels execs at First Solar may now be a more willing seller following a tumultuous 2011.
Chew does offer a warning however: despite improved M&A chances, he does not see the deal likely, pointing out that rumors of a GE/First Solar deal have been making the rounds for years.
Amid a 1.5 percent decline in the TAN ETF (NYSE: TAN) this afternoon, First Solar shares are up nearly 1 percent at last check.
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