Canaccord Genuity Maintains a 'Hold' on First Solar (FSLR); Cannot Become More Constructive on Shares Til Overhang Removed
Tweet
Share
E-mailGet Alerts FSLR Hot Sheet
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
Join SI Premium – FREE
Canaccord Genuity maintains a 'Hold' on First Solar (NASDAQ: FSLR) price target cut to $30.00.
Analyst, Jonathan Dorsheimer, said, "The company missed expectations and had significant one-time charges related to asset impairment, restructuring and more importantly a warranty expense beyond the normal warranty reserve...While the manufacturing issues and charges for the “manufacturing excursion” from back in 2008-2009 appear to now be largely behind the company, First Solar has begun to address another possible issue: accelerated temperature-induced degradation. As a result it has increased its normal warranty reserve going forward to plan for this potential problem as well...With impairments and a loss of near-term competitiveness in the third party module business, we will focus only on the value of the company’s project pipeline for conservatism."
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 $27.49 yesterday.
Analyst, Jonathan Dorsheimer, said, "The company missed expectations and had significant one-time charges related to asset impairment, restructuring and more importantly a warranty expense beyond the normal warranty reserve...While the manufacturing issues and charges for the “manufacturing excursion” from back in 2008-2009 appear to now be largely behind the company, First Solar has begun to address another possible issue: accelerated temperature-induced degradation. As a result it has increased its normal warranty reserve going forward to plan for this potential problem as well...With impairments and a loss of near-term competitiveness in the third party module business, we will focus only on the value of the company’s project pipeline for conservatism."
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 $27.49 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
- Keefe, Bruyette & Woods Resumes Royal Bank of Canada (RY:CN) (RY) at Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign 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!
