UBS Raises Estimates on First Solar (FSLR); Solid Execution in Tough Market, But Lingering...

UBS maintains a 'Neutral' on First Solar (NASDAQ: FSLR) price target of $17.00 (from $15.00).

Analyst, Stephen Chin's points include: 1) Solid 2Q12 with increasing new bookings, but lingering price pressure; 2) Major improvements in its module cost/watt starting to show up again; and 3) Raising estimates slightly on higher demand: FY12 EPS estimate from $4.25 to $4.45, revs from $3.65B to $3.75B. FY13 EPS from $4.50 to $4.60.

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 $14.80 yesterday.

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