UBS Lowers Numbers on First Solar (FSLR); Implementing a Slightly Revised Strategy
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Price: $225.56 +0.84%
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
37 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on First Solar (NASDAQ: FSLR) price target lowered from $53 to $36.
UBS analyst says, "Continued focus on utility scale solar a positive longer term...But lower focus on components/rooftop could be a harder transition...We believe First Solar has proven it is the market leader for sales to utility customers (will install 1GW to utilities in 2012) and its balance of systems cost per watt is $0.87 or 30%+ lower than competitors. A key challenge is growing its utility pipeline (2.8GW dc) which we estimate could be all used up by 2014 if new focus regions (Southeast Asia/Middle East/Africa) do not show strong growth."
"We believe First Solar may need to consider shutting down more capacity if it is unable to win more big projects such as Solarhybrid (2.3GW in the US). Our new 2012 and 2013 EPS are $4.00 and $4.50 versus $6.63 and $8.00 previously."
For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.
Shares of First Solar closed at $33.45 yesterday.
UBS analyst says, "Continued focus on utility scale solar a positive longer term...But lower focus on components/rooftop could be a harder transition...We believe First Solar has proven it is the market leader for sales to utility customers (will install 1GW to utilities in 2012) and its balance of systems cost per watt is $0.87 or 30%+ lower than competitors. A key challenge is growing its utility pipeline (2.8GW dc) which we estimate could be all used up by 2014 if new focus regions (Southeast Asia/Middle East/Africa) do not show strong growth."
"We believe First Solar may need to consider shutting down more capacity if it is unable to win more big projects such as Solarhybrid (2.3GW in the US). Our new 2012 and 2013 EPS are $4.00 and $4.50 versus $6.63 and $8.00 previously."
For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.
Shares of First Solar closed at $33.45 yesterday.
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