UPDATE: Guggenheim Starts First Solar (FSLR) at Buy
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Guggenheim analyst Joseph Osha initiates coverage on First Solar (NASDAQ: FSLR) with a Buy rating and a price target of $113.00.
The analyst comments "We are initiating research coverage of First Solar with a BUY recommendation and a $113 price target, 28% above yesterday’s closing price. FSLR is the largest US-based producer of solar panels, and one of the world’s largest non-Chinese producers. The company is also the only large-scale manufacturer of solar panels using thin-film technology as opposed to the crystalline silicon technology used by most other competitors. FSLR’s panels are used mostly for utility-scale solar installations, and we expect more than 70% of net sales to be in the United States in 2021."
Shares of First Solar closed at $88.27 yesterday.
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