Cantor Fitzgerald Upgrades First Solar (FSLR) to Hold; Easy Short Call Done; Looking for A Little Luck
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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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Cantor Fitzgerald upgraded First Solar (NASDAQ: FSLR) from Sell to Hold with a price target of $21.50.
Analyst, Dale R. Pfau, said, "Our thesis since initiation has been that solar subsidies around the world that were driving demand were unsustainable, and that as subsidies decreased, panel prices would fall. This would then lead to lower earnings. Our thesis has played out, and prices have collapsed to levels below even our bearish estimates....However, First Solar and the rest of the solar industry now recognize the dire and daunting market outlook. We expect the next phase of market evolution will be irrational consolidation that could take three years or longer to play out. We believe that going forward, fundamentals will be less important than politics, M&A activity, and perhaps luck."
Cantor slashes FY12 EPS estimate from $3.65 to $0.05.
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 $22.96 yesterday.
Analyst, Dale R. Pfau, said, "Our thesis since initiation has been that solar subsidies around the world that were driving demand were unsustainable, and that as subsidies decreased, panel prices would fall. This would then lead to lower earnings. Our thesis has played out, and prices have collapsed to levels below even our bearish estimates....However, First Solar and the rest of the solar industry now recognize the dire and daunting market outlook. We expect the next phase of market evolution will be irrational consolidation that could take three years or longer to play out. We believe that going forward, fundamentals will be less important than politics, M&A activity, and perhaps luck."
Cantor slashes FY12 EPS estimate from $3.65 to $0.05.
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 $22.96 yesterday.
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