Cowen Upgrades First Solar (FSLR) to Outperform

Cowen upgraded First Solar (NASDAQ: FSLR) from Neutral to Outperform with a price target of $65.00 (from $62.00) following Q2 results, citing improved visibility on pipeline and cost optimization.

Analyst Jeffrey Osborne commented, "FSLR reported strong results, beating estimates. Key milestones met during Q2: (a) avg. efficiency increased 70bps q/q, (b) 8point3 launched, creating a viable destination for assets, (c) production is maxing out, with 2015 sold out and 2016 nearly sold out. We are upgrading to Outperform on solid cost reduction execution and growing pipeline diversification ahead of the post-2016 ITC shift."

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 $44.50 yesterday.

You May Also Be Interested In

• Nomura/Instinet Upgrades SK Innovation Co Ltd (096770:KS) to Neutral
• Wolfe Research Starts SpaceX (SPCX) at Outperform
• BofA Securities Resumes Williams-Sonoma (WSM) at Buy