Cantor Fitzgerald Reiterates a 'Sell' on First Solar (FSLR); No Change to Fundamentals
Tweet
Share
E-mailGet Alerts FSLR Hot Sheet
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
Join SI Premium – FREE
Cantor Fitzgerald reiterates a 'Sell' on First Solar (NASDAQ: FSLR) price target of $26.50.
Cantor analyst said, "The shares of FSLR have moved up sharply since bottoming in mid- December. However, we find nothing to change our fundamental outlook on the solar industry, and while we continue to expect the shares to be volatile over the coming year, we believe that they will ultimately make new lows. n There have been a few positive developments that appear to have emboldened investors, including strong December shipments in Germany, a bullish outlook on Chinese installations, and a pending US trade commission ruling."
"However, these are generally offset by the massive overcapacity that remains among solar panel manufacturers. We also believe that global demand is likely to be flat to down in 2012. While module pricing may stabilize or decline more gradually over the year, we expect margins to remain under pressure. We believe it could take three years or longer for the solar panel market to reach some semblance of equilibrium. In the meantime, every manufacturer will struggle to survive, and we fully expect that panel pricing will trend toward marginal cost of c-Si until supply and demand stabilize."
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 $39.92 yesterday.
Cantor analyst said, "The shares of FSLR have moved up sharply since bottoming in mid- December. However, we find nothing to change our fundamental outlook on the solar industry, and while we continue to expect the shares to be volatile over the coming year, we believe that they will ultimately make new lows. n There have been a few positive developments that appear to have emboldened investors, including strong December shipments in Germany, a bullish outlook on Chinese installations, and a pending US trade commission ruling."
"However, these are generally offset by the massive overcapacity that remains among solar panel manufacturers. We also believe that global demand is likely to be flat to down in 2012. While module pricing may stabilize or decline more gradually over the year, we expect margins to remain under pressure. We believe it could take three years or longer for the solar panel market to reach some semblance of equilibrium. In the meantime, every manufacturer will struggle to survive, and we fully expect that panel pricing will trend toward marginal cost of c-Si until supply and demand stabilize."
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 $39.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Reiterates Outperform Rating on First Solar (FSLR)
- Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
- First Solar (FSLR) PT Raised to $324 at Mizuho
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Cantor FitzgeraldSign 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!
