Canaccord Genuity Maintains a 'Hold' on First Solar (FSLR); Pros and Cons to Further Restructuring
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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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Canaccord Genuity maintains a 'Hold' on First Solar (NASDAQ: FSLR) price target lowered from $30 to $22.
Analyst, Jonathan Dorsheimer, said, "We maintain our rating on FSLR shares following a further restructuring. On one hand, First Solar is trading at a discount to book value and its existing project pipeline may provide a significant source of cash over the next three years. However, we cannot become more constructive on the stock until we get more comfortable with company-specific and macro-related risks."
"...While difficult, right-sizing the business and attempting to lower the cost structure is clearly the right thing to do: this market has been ruthless to higher cost suppliers – see the bankruptcies of Evergreen Solar, Q-cells, Solon, etc."
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, Jonathan Dorsheimer, said, "We maintain our rating on FSLR shares following a further restructuring. On one hand, First Solar is trading at a discount to book value and its existing project pipeline may provide a significant source of cash over the next three years. However, we cannot become more constructive on the stock until we get more comfortable with company-specific and macro-related risks."
"...While difficult, right-sizing the business and attempting to lower the cost structure is clearly the right thing to do: this market has been ruthless to higher cost suppliers – see the bankruptcies of Evergreen Solar, Q-cells, Solon, etc."
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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